1.Which of the following is not a SOX requirement?

	SOX establishes a requirement for a tip line for employees to report questionable acts.
	SOX requires management to report on the effectiveness of internal controls and to make it clear that they are not responsible for the internal control system.
	SOX requires the external auditors to issue a report on the effectiveness of internal controls.
	SOX increases the maximum fines for individuals who commit fraudulent acts.

2.According to the Sarbanes-Oxley Act (SOX), who are the external auditors hired by and required to report to?

	Chief financial officer.
	President of the company.
	the Internal Revenue Service.
	Audit committee.

3.When auditors conclude that a company's financial statements conform to GAAP, the audit report is said to be:

	unqualified.
	relevant.
	qualified.
	validated.