A requirement of SOX is that publicly traded companies must have which of the following assessed...
A requirement of SOX is that publicly traded companies
must have which of the following assessed annually?
A.
Internal control system
B.
Internal control system and financial reporting system
C.
Financial reporting system
D.
There is no annual assessment required under SOX.
Homework Answers
Solution:
B is the correct answer
A requirement of SOX is that publicly traded compant must have assessed Internal control system and Financial reporting system annually. Effective in 2006, all public companies are required to submit an annual assessement of the effectiveness of their internal financial auditing controls to the Securities and Exchange Commission (SEC).
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A requirement of SOX is that publicly traded companies
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