The Sarbanes-Oxley Act a. created the Private Company Accounting Board. b. allows accountants to audit and to perform any type of consulting work for a public company. c. stipulates that violators of the act may serve 20 years in prison for securities fraud. d. requires that an outside auditor must evaluate a public company’s internal controls.

The Sarbanes-Oxley Act a. created the Private Company Accounting Board. b. allows accountants to audit and to perform any type of consulting work for a public company. c. stipulates that violators of the act may serve 20 years in prison for securities fraud. d. requires that an outside auditor must evaluate a public company’s internal controls.

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.11: New Century Financial Corporation

Problem 3Q

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Question

The Sarbanes-Oxley Act

a. created the Private Company Accounting Board.

b. allows accountants to audit and to perform any type of consulting work for a public company.

c. stipulates that violators of the act may serve 20 years in prison for securities fraud.

d. requires that an outside auditor must evaluate a public company’s internal controls.

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