Mastering Accounting Information Systems
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Questions and Answers

Which act established new corporate governance regulations and standards for public companies registered with the Securities and Exchange Commission?

  • The Internal Revenue Code (IRC)
  • The Sarbanes-Oxley Act (SOX) of 2002 (correct)
  • The Dodd-Frank Wall Street Reform and Consumer Protection Act
  • The Financial Accounting Standards Board (FASB)

    • What impact does the Sarbanes-Oxley Act (SOX) have on internal control standards and related auditing procedures?

  • It has no impact on internal control standards and related auditing procedures
  • It resolves the controversy among college faculty regarding the AIS course
  • It defines the entire content of the AIS course
  • It identifies critical areas of study that need to be included for accountants (correct)

    • What is the main reason for the controversy surrounding the coverage of accounting information systems (AIS) in college courses?

  • Lack of well-defined body of knowledge (correct)
  • Lack of qualified faculty
  • Lack of funding for AIS courses
  • Lack of interest from students

    • Which of the following is NOT impacted by the Sarbanes-Oxley Act (SOX)?

    <p>Private companies</p> Signup and view all the answers

    In relation to the AIS course, what role does recent legislation, such as the Sarbanes-Oxley Act (SOX), play?

    <p>It identifies critical areas of study that need to be included for accountants</p> Signup and view all the answers

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