All of the Following Are Important Provisions of the Sarbanes-Oxley

question 89

Multiple Choice

All of the following are important provisions of the Sarbanes-Oxley Act except:

• A) The establishment of a new Public Company Accounting Oversight Board.
• B) The requirement to prepare both FASB and IASB financial statements.
• C) A requirement that the external auditors report directly to the company's audit committee.
• D) A clause to prohibit public accounting firms that audit a company from providing any other services that could impair their ability to act independently in the course of their audit.

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Definitions:

Pesticide Residue

Trace amounts of chemicals from pesticides that remain on or in food after they are applied to crops.

Companion Regulations

Secondary regulations that accompany primary legislation to provide detailed guidance on its implementation or enforcement.

Environmental Impact Statement

A document prepared to describe the effects for proposed activities on the environment, intended to inform decision-making on such activities.

Business People

Individuals engaged in commercial, industrial, or professional activities.