SARBANES-OXLEY ACT OF 2002

Question 1

SARBANES-OXLEY ACT OF 2002

Answer 1

• Created the PCAOB
• Designates Officer responsibility for internal control

Question 2

SOX Internal Control

Answer 2

• Must disclose significant internal control weaknesses to auditor and audit committee
• Must disclose any level of fraud discovered by employees with internal control responsibilities

Question 3

Required under Sarbanes-Oxley

Answer 3

Examination of Internal Control by management required under Sarbanes-Oxley:

• CEO/CFO must disclose deficiencies
• Management must assess Internal Controls
• Management must certify Financial Statements