What are some of the new responsibilities of management required by the Sarbanes-Oxley Act of 2002?
What will be an ideal response?
Management is now required to include a report on the company's internal controls in the company's annual report. The CEO and the CFO now must certify that they have reviewed the annual financial statements and swear that they are aware of no false statements or omissions. Management must provide a way, including a hotline, to report anonymously any fraudulent activity in the company. Management is not allowed to punish an employee for disclosing suspected fraud.
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If a policy loan has not been repaid by the time the insured dies, the amount paid is reduced.
a. true b. false
John owns a small department store that issues its own credit cards. He has been considering
phasing out his own credit card and accepting Visa® or MasterCard® . If John chooses to do this he will be going from a position of risk ________ to one of risk ________. A) reduction; transfer B) avoidance; reduction C) assumption; avoidance D) assumption; transfer