8. What does Section 404 of the Sarbanes-Oxley Act of 2002 require? (a) A ten-year jail sentence and $1 million fine for violations of the act. (b) Rotation of audit partners every five years. (c) A statement by the company regarding the effectiveness of internal controls and a disclosure of any material weaknesses in a firm’s inter- nal control system. (d) Auditor independence, which prohibits audit firms from offering any services other than audit services.
Solution ID:10137712 | Question answered on 16-Oct-2016
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