44 Which of the following describes a change in internal controls and compliance as a result of the Sarbanes-Oxley Act?

1. The corporate associates who are responsible for the development and maintenance of the accounting information system have become less important.
2. Although there are new management reporting requirements, the financial reporting has actually decreased.
3. The creation of new reporting requirements has created a large amount of extra work for accountants, IT departments, and executives.
4. A side effect of compliance with the internal control sections of the Act has resulted in a decrease in the amount of accounting information.