Sarbanes Oxley Act Compliance
Bob, the CEO of ABC Hydraulics, is committed to ethical business practices and ensures that investors are kept well-informed about the company's financial state. However, to prevent embezzlement, he restricts top-level executives from viewing the company's internal financial records. Does this practice comply with the Sarbanes-Oxley Act (SOX)?
A
Yes, because SOX does not regulate the practices mentioned in this scenario.
B
No, because SOX requires the CEO to outsource financial management to a trusted confidant.
C
No, because SOX mandates that top-level executives must certify the accuracy of financial information.
D
Yes, because SOX is solely concerned with establishing penalties for noncompliance.