Which of the Following Is a Requirement of the Sarbanes-Oxley

question 147

Multiple Choice

Which of the following is a requirement of the Sarbanes-Oxley Act?

• A) An outside auditor must evaluate the client's internal controls and report on the internal controls as part of the audit report.
• B) The Public Company Accounting Oversight Board must conduct audits of public companies.
• C) The accounting firm that audits a public client must also provide consulting services for the same client.
• D) The Public Company Accounting Oversight Board must create new accounting standards.

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Definitions:

Dependent Population

The segment of the population that relies on others for support, typically including children, the elderly, and those unable to work.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, heralding significant changes in technology, economy, and society.

Economic Growth

The rise in the real market value of goods and services generated by an economy over a period.

Living Standards

The degree of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.