Which of the Following Is Explicitly Required by the Sarbanes-Oxley

question 116

Multiple Choice

Which of the following is explicitly required by the Sarbanes-Oxley Act of 2002 for audits of public companies?

• A)Subsequent event review.
• B)Concurring partner review (engagement quality review).
• C)Disclosure of all contingent liabilities.
• D)Seven year client rotation.

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Definitions:

Subsidiary Ledger

A detailed ledger that contains the individual accounts with a common characteristic, linked to a general ledger account.

Accounting Information System

A system used to collect, store, manage, process, retrieve, and report financial data for the users.

Manual Accounting System

A system in which someone performs each of the steps in the accounting cycle by hand.

Special Journals

Accounting books designed for recording specific types of transactions, such as sales, purchases, cash receipts, and cash disbursements.