Asked by Bhushan Chaudhari on May 25, 2024
Verified
Which is not associated with the Sarbanes-Oxley Act of 2002?
A) Auditors cannot provide clients with bookkeeping services.
B) Auditors do not report to CEOS and CFOs.
C) Senior managers for auditing firms cannot supervise the audit of a given client for more than five years.
D) The accounting industry maintains self-regulation.
Sarbanes-Oxley Act
A U.S. law enacted in 2002 to protect investors from fraudulent financial reporting by corporations.
Auditors
Independent professionals who examine the financial records and business transactions of a company to ensure accuracy and compliance with accounting standards.
Self-Regulation
The process whereby an industry or profession monitors and enforces its own standards and practices without external oversight.
- Gain insight into the conditions and effects of the Sarbanes-Oxley Act.
Verified Answer
Learning Objectives
- Gain insight into the conditions and effects of the Sarbanes-Oxley Act.
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