Which of the following statements about the Sarbanes-Oxley Act is incorrect?
a. Because of the act, the SEC was required to establish an oversight board.
b. Because the act is complex, compliance is more expensive and time-consuming for corporate management.
c. Because of the act, auditors, and accountants receive monetary rewards if they find violations.
d. Because of the act, a corporation’s chief executive and financial officers must certify financial reports.
e. Because of the act, auditors, accountants, and employees can be imprisoned for destroying financial documents related to an audit.
c. Because of the act, auditors, and accountants receive monetary rewards if they find violations.
You might also like to view...
Acme Company is the largest employer in Arkansas. The CEO has determined that women are significantly underrepresented in the workplace. To remedy this problem the CEO instructed the Human Resources Manager to hire only females for the next year or until the underrepresentation problem is solved. Which of the following is correct?
A. This policy is a suggestion by the Affirmative Action Law of 1976 B. This policy is a quota system which is forbidden under Supreme Court precedents C. This policy is specifically forbidden by the Affirmative Action Law of 1976 D. This policy is specifically recommended by the EEOC.
An "incipient market" is a market that will emerge if a particular economic, demographic, political, or sociocultural trend continues in a country
Indicate whether the statement is true or false