Question

Question 1 of 1010.0 Points

PCAOB stands for:

A. Public Company Accounting Options Board

B. Private Company Accounting Oversight Board

C. Private Company Accounting Options Board

D. Public Company Accounting Oversight Board

Question 2 of 1010.0 Points

Which Section in Sarbanes-Oxley addresses internal control structure?

A. 404

B. 504

C. 302

D. 405

Question 3 of 1010.0 Points

A public company’s disclosure internal control disclosure requirements in its annual report according to Sarbanes-Oxley Section 404 include which of the following:

A. A written attestation by the company’s board of directors confirming the adequacy and accuracy of its internal controls.

B. A written attestation by the company’s management confirming the adequacy and accuracy of its internal controls.

C. A written attestation by the company’s internal auditor confirming the adequacy and accuracy of its internal controls.

D. A written attestation by the company’s external auditor confirming the adequacy and accuracy of its internal controls.

Question 4 of 10

Internal controls, as defined in Sarbanes-Oxley Section 404, are:

A. the processes a company implements to prevent theft by employees.

B. the processes a company implements to prevent fraternization within departments.

C. the processes a company implements to ensure its financial statements comply with GAAP and are free from material misrepresentations and omissions.

D. the processes a company implements to ensure its purchasing department gets materials at the lowest price available and does not accept bribes or gifts from vendors.

Question 5 of 1010.0 Points

Sarbanes-Oxley has no impact on non-public companies.

A. True

B. False

Answer 1

Answer to Question No.1

PCAOB stands for:

D. Public Company Accounting Oversight Board

Answer to Question No.2

Section 404 in Sarbanes-Oxley addresses internal control structure.

Answer to Question No.3

A public company’s disclosure internal control disclosure requirements in its annual report according to Sarbanes-Oxley Section 404 include a written attestation by the company’s external auditor confirming the adequacy and accuracy of its internal controls.

Answer to Question No.4

Internal controls, as defined in Sarbanes-Oxley Section 404, are the processes a company implements to ensure its financial statements comply with GAAP and are free from material misrepresentations and omissions.

Answer to Question No.5

Sarbanes-Oxley has no impact on non-public companies.

B. False