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Public companies in the US are required by SOX to have a forensic audit every 3-5 years. 1) True. 2) False. The FCPA companies that are listed on a stock exchange in the US from paying bribes to foreign government official the purpose of obtaining or retaining business. 1) True. 2) False.

Public companies in the US are required by SOX to have a forensic audit every 3-5 years. 1) True. 2) False. The FCPA companies that are listed on a stock exchange in the US from paying bribes to foreign government official the purpose of obtaining or retaining business. 1) True. 2) False.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Recomendations for fraud detection are included in SAS 99 (AU 316, and now PCAOB AS 2401). Which of the following recomendations does the AICPA consider to mainly within the purview of the CPA? 1) Brainstroming risks of fraud. O2) Increased professional skepticism. 3) Discussions with management. 4) Responding to managment override of controls. 5) Use of unpredictable audit tests-surprise procedures.
Transcribed Image Text:Recomendations for fraud detection are included in SAS 99 (AU 316, and now PCAOB AS 2401). Which of the following recomendations does the AICPA consider to mainly within the purview of the CPA? 1) Brainstroming risks of fraud. O2) Increased professional skepticism. 3) Discussions with management. 4) Responding to managment override of controls. 5) Use of unpredictable audit tests-surprise procedures.
Public companies in the US are required by SOX to have a forensic audit every 3-5 years. 1) True. 2) False. The FCPA companies that are listed on a stock exchange in the US from paying bribes to foreign government official the purpose of obtaining or retaining business. 1) True. 2) False.
Transcribed Image Text:Public companies in the US are required by SOX to have a forensic audit every 3-5 years. 1) True. 2) False. The FCPA companies that are listed on a stock exchange in the US from paying bribes to foreign government official the purpose of obtaining or retaining business. 1) True. 2) False.
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