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CTP · Question #107
(Topic 2) To strengthen outside auditor independence with regard to publicly held companies, the Sarbanes-Oxley Act requires that:
The correct answer is D. the lead audit partner and audit review partner be rotated every five years. See the full explanation below for the reasoning.
Question
- (Topic 2)
To strengthen outside auditor independence with regard to publicly held companies, the Sarbanes-Oxley Act requires that:
Options
- Aemployment of staff from companies' accounting firms be approved in advance by the
- Bcompanies change accounting firms for audit services at least every seven years.
- Caccounting firms supply audit work papers annually to the SEC for their clients.
- Dthe lead audit partner and audit review partner be rotated every five years.
How the community answered
(40 responses)- A10% (4)
- B5% (2)
- C3% (1)
- D83% (33)
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