The Importance to the Accounting Profession of the Sarbanes-Oxley Act

question 160

Multiple Choice

The importance to the accounting profession of the Sarbanes-Oxley Act is that

• A)bribery will be eliminated
• B)management will not override the company's internal controls
• C)management is required to certify the internal control system
• D)firms will not be exposed to lawsuits

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Definitions:

Completed Project

A fully finished and executed task or work that has met its intended objectives.

Proposed Program

A plan or proposal for a new project, course of action, or initiative, typically submitted for approval or consideration.

Itemization

The process of listing items or elements separately with specific details, often used for clarity or organizational purposes.

Deliverables

The tangible or intangible outputs produced as a result of a project, program, or process, which are expected to be delivered to a client or stakeholder.