Question

Which of the following is not one of the groups of SOX compliance requirements?

a) Requirements to use an IT auditor to evaluate controls
b) Regulations governing executive reporting and conduct
c) Rules about financial statement reporting
d) Audit committeecorporate governance requirements

Answer 1

The correct answer is d) Audit committee corporate governance requirements. The other options, a), b), and c), are all groups of SOX compliance requirements.

Step-by-step explanation:

The correct answer is d) Audit committee corporate governance requirements. The other options, a), b), and c), are all groups of SOX compliance requirements. Sarbanes-Oxley Act (SOX) compliance requirements are regulations implemented to improve transparency and accountability in financial reporting and corporate governance. These requirements aim to protect investors and reduce the risk of financial fraud. The act was passed in response to the accounting scandals of the early 2000s, such as Enron and WorldCom.

Requirement a) refers to the need for IT auditors to evaluate controls related to information technology systems and processes. Requirement b) pertains to regulations governing executive reporting and conduct, ensuring that executives provide accurate and timely financial information and adhere to ethical standards. Requirement c) involves rules and guidelines related to financial statement reporting, ensuring the accuracy and reliability of financial statements. The correct answer is d) Audit committee corporate governance requirements.