Which of the following is not part of the Sarbanes-OxleyAct?O Independent outside auditors must eliminateredundant internal controls.O Publicly traded U.S. corporations are required tomaintain an adequate internal control system.O Independent outside auditors must attest to theadequacy of the internal control system.O Companies that fail to comply are subject to finesand company offices can be imprisoned.

This Act is a critical or significant piece of law in the United States that was adopted or created…

Answered: Which of the following is not part of…

Similar questions

A self-insured organization needs a(n) Third-party administrator (TPA). Recordkeeping system to track its self-insured claims. Informal retention plan. Workers compensation or auto liability loss exposure.
a - You are a CPA and have accepted a new client for an audit engagement. You come to realize that the client’s industry is more complex and technical than your initial assessments. In fact, you realize you are not competent to audit in certain areas of this client. What are your options? b - Audits that involve information technology can require special technical knowledge and skill. Name two credentials (designations) that demonstrate competency in auditing information technology. Also, please name the organizations who sponsor these credentials.
Which of the following correctly categorizes the items as entity level factors and industry/economic effect factors? O Entity level factors; 1, 4, 6; Industry/Economic effect factors; 2, 3, 5, 7,8 O Entity level factors; 3, 4, 6; Industry/Economic effect factors; 1, 2, 5, 7, 8 O Entity level factors; 1, 3, 4, 5, 6; Industry/Economic effect factors; 2, 7, 8 O Entity level factors; 1, 3, 4, 6; Industry/Economic effect factors; 2, 5, 7, 8 O Entity level factors; 1, 4; Industry/Economic effect factors; 2, 3, 5, 6, 7, 8 O Entity level factors; 1, 2 3, 4, 6, 7; Industry/Economic effect factors; 5, 8
i need the answer quickly
1. Retrieve the SEC's complaint against ClearOne Communications, Inc. (www.sec.gov/ litigation/litreleases/lr17934.htm). Describe management's scheme for inflating revenue.
If codes of ethics are intended only to ensure that company policies are legal, they do not serve their proper purpose true false
Dave is the owner of Fine Pool and Spa. He just discovered that his that his trusted friend Chris, who has been his accountant for over 20 years, has been skimming money from Fine’s bank account. Dave has to decide whether to ignore his Chris’s actions in order to avoid conflict and bad publicity, or to have Chris arrested for embezzlement. What is Dave facing? a. whistle – blower b. a synergy factor c. a social audit d. an ethical dilemma e. an issue of corporate governance
Agency Issues. One of the “Finance through the Ages” episodes that we cited is the 1993 collapse of Barings Bank, when one of its traders lost $1.3 billion. Traders are compensated in large part according to their trading profits. How might this practice have contributed to an agency problem?
Cedar Hospital Systems Fraud Hospital administrator Jake Rosen was recently convicted for fraud he committed against his employer, Cedar Hospital Systems. Over a period of six years, he allegedly made payments to a dummy company for maintenance charges while simultaneously running a scheme with maintenance contractors where he either paid them for work never performed or overpaid them for work. The skyscraper where Jake worked was only 10 years old. Maintenance charges rose from $5.2 million in 1994 to $16.4 million in 2000. It was worth noting that the judge on the case questioned whether Cedar Hospital Systems deserved less than full restitution for failing to notice the problem. However, it was determined that federal law on restitution does not allow such charges, so Jake Rosen will be making monthly payments towards the alleged $8 million he stole until he makes full restitution after leaving prison. He was able to quickly repay $3.2 million of the theft with assets recovered by…
Which of the following taxpayers will incur a failure to file penalty? Boston shows negligence or disregard of the rules or regulations causing an underpayment of taxes on his return. Chantel understates her tax by $1520 dollars. Which is greater than 10% of the correct amount of tax. Francesca fails to pay the tax she owes by the due date on her return. Santiago fails to file his return by the due date or extended due date, has a $400 balance due, and presents no reasonable cause for filing late.
The Sarbanes-Oxley Act includes additional communication requirements for auditors of public companies. true or false?
Your client has been renting a house and carries a Tenants Comprehensive policy through your office. He/she is getting married soon and has just bought a house into which he/she will soon move. Which one (1) of the following actions should you NOT do? OA) Endorse his/her Tenants policy to show the new address and add building coverage in the amount of the purchase price of the house. OB) Use a Home Calculator to estimate the replacement cost of the house. OC) Check into the security arrangements in the house as it may affect the premium to be charged. OD) Cancel his/her Tenant policy and re-write their insurance as a Homeowners policy.

SEE MORE QUESTIONS