Explanation/Reference:
Explanation:
Section 302 of the Sarbanes-Oxley Act requires corporate responsibility for financial reports to be certified by CEO, CFO, or designated representative.
Incorrect Answers:
B: Section 404 of the Sarbanes-Oxley Act states that annual assessments of internal controls are the responsibility of management.
C: Section 203 of the Sarbanes-Oxley Act requires audit partners and review partners to rotate off an assignment every five years.
D: Section 409 of the Sarbanes-Oxley Act states that the financial reports must be distributed quickly and currently.

Section: Volume C
Explanation:
The enterprise must consider risk that has not yet occurred and should develop scenarios around unlikely, obscure or non-historical events.
Such scenarios can be developed by considering two things:
* Visibility
* Recognition
For the fulfillment of this task enterprise must:
* Be in a position that it can observe anything going wrong
* Have the capability to recognize an observed event as something wrong

is incorrect. Avoidance changes the project plan to avoid the risk altogether. Answer: C is incorrect. Transference requires shifting some or all of the negative impacts of a threat, along with the ownership of the response, to a third party. Transferring the risk simply gives another party the responsibility for its management-it does not eliminate it. Transferring the liability for a risk is most effective in dealing with financial risk exposure. Risk transference nearly always involves payment of a risk premium to the party taking on the risk. Answer: D is incorrect. Enhancing is actually a positive risk response. This strategy is used to increase the probability and/or the positive impact of an opportunity. Identifying and maximizing the key drivers of these positive-impact risks may increase the probability of their occurrence.