What does Section $404$ of the Sarbanes$-$Oxley Act of $2002$ require?

Rotation of audit partners every five years.

Auditor independence, which prohibits audit firms from offering any services other than audit services.

A statement by the company regarding the effectiveness of internal controls and a disclosure of any material

weaknesses in a firm's internal control system.

A ten$-$year jail sentence and $$1$ million fine for violations of the act.