“…This study examines both Sarbanes-Oxley Act (SOX) Section 302 and Section 404(b) ineffective internal control reports (hereafter 302 and 404, respectively, and IICs collectively) to gain insights that augment and extend prior findings focusing on CRMs (e.g., Lee, Li and Zhang, 2015;Darrough, Huang, and Zhao, 2015;Chen, Cheng, Lin, Lin, and Xiao, 2016;Mao and Ettredege, 2016). Because 302 (404) disclosures are the statutory responsibility of firm managers (auditors), examining both 302 and 404 1 Representative headlines include "Chinese stock scams are the latest U.S. import" (Vlastelica & Bases, Reuters, May 11, 2011), "China's U.S.-listed stocks are junk" (Stephen, Market Watch, July 10, 2011), "Falling out of love with China" (Sternberg, Wall Street Journal, November 17, 2011).…”