GARP Financial Risk and Regulation (FRR) Series 2016-FRR Question # 24 Topic 3 Discussion
2016-FRR Exam Topic 3 Question 24 Discussion:
Question #: 24
Topic #: 3
Which one of the following four regulatory drivers for operational risk management includes risk and control requirements for financial statements in the United States?
The Sarbanes-Oxley Act includes risk and control requirements for financial statements in the United States. It mandates strict reforms to improve financial disclosures from corporations and prevent accounting fraud. This Act directly impacts operational risk management by setting standards for all U.S. public company boards, management, and public accounting firms.
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