The Sarbanes-Oxley Act of 2002 Impacts Auditors' Actions Most Directly

question 19

Multiple Choice

The Sarbanes-Oxley Act of 2002 impacts auditors' actions most directly when they:

• A) Express an opinion on financial statements.
• B) Complete an investigative audit.
• C) Review the internal control system.
• D) Participate in a SAS 70 audit.

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Definitions:

Nonprofit Organization

An entity that operates for a collective, public, or social benefit, rather than to make profit for owners or shareholders.

Cooperative

A business or organization owned and operated for the mutual benefit of its members or shareholders.

Government Agency

An organization under the government that has specific functions in the administration and implementation of public policy.

Industry

Refers to a particular form or branch of economic or commercial activity, often associated with the production of goods or services.