Question

As a result of rules implementing the __________ , the chief executive officers and chief financial...

As a result of rules implementing the __________ , the chief executive officers and chief financial officers must personally certify the accuracy of all mandatory corporate filings with the Securities and Exchange Commission.

a.

states’ blue-sky laws
b.

Sarbanes-Oxley (SOX) Act of 2002
c.

Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
d.

Consumer Financial Protection Bureau
(CFPB) regulations
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The answer is option b- Sarbanes-Oxley (SOX) Act of 2002

Because of the 2002 Sarbanes-Oxley Act, corporate officers will go to prison for intentionally certifying false financial statements. Section 404 of the 2002 SOX Act allows management and auditors to develop internal controls and monitoring methods to ensure that controls are sufficient.

As a result of rules implementing the Sarbanes-Oxley (SOX) Act of 2002, the chief executive officers and chief financial officers must personally certify the accuracy of all mandatory corporate filings with the Securities and Exchange Commission.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following are Major laws govern the sale and trading of securities as well as reporting...
The following are Major laws govern the sale and trading of securities as well as reporting standards. 1.   Securities Act of 1933 was a response to abuses present in the securities markets during the Wall Street “crash” era. Its purpose was to provide full disclosure of all pertinent investment information on new corporate security issues. 2.  The Securities Exchange Act of 1934 created the Securities and Exchange Commission (SEC) and empowered it to regulate the securities markets. 3.  The Securities Acts Amendments...
QUESTION 8 The two accounting standards setting organizations concerned with Management Accounting are the Cost Accounting...
QUESTION 8 The two accounting standards setting organizations concerned with Management Accounting are the Cost Accounting Standards Board and _________________. A. Institute of Management Accountants B. Securities and Exchange Commission C. Public Company Accounting Oversight Board D. Financial Accounting Standards Board 10 points    QUESTION 9 What goal on the Balanced Scoreboard uses engineering efficiency as a measure? A. New product introduction B. Product focus C. Design productivity D. Manufacturing learning 10 points    QUESTION 10 Among the new rules...
Financial regulations are rules created and imposed by the government on financial institutions, such as banks....
Financial regulations are rules created and imposed by the government on financial institutions, such as banks. The objective of financial regulations is to prevent the abuse of financial services to customers, to protect the savings of the public, and to keep the financial economy stabilized (Rose, Hudgins 2008 p. 31). It is accurate to state that the impact of past financial crises has established and contributed to the amelioration of financial regulation over the decades. In 1929 when the Great...
Case Analysis Answer the assignment questions for this exercise after reading Chapter 2 and Concepts &...
Case Analysis Answer the assignment questions for this exercise after reading Chapter 2 and Concepts & Connections 2.4. The mini case is also provided below. The exercise should help you become aware of the role and responsibility of a company's board of directors in overseeing the strategic management process. Executive compensation in the financial services industry during the mid-2000s ranks high among examples of failed corporate governance. Corporate governance at the government-sponsored mortgage giants Fannie Mae and Freddie Mac was...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described itself as "a quarterly survey of business leaders from across the globe … surveying 11,500 businesses in 40 economies across the globe on an annual basis." 1 According to the 2011 IBR, the Asia Pacific region had a higher percentage (27 percent) of female chief executive officers (CEOs) than Europe and North America. Japan is the only Asia Pacific region exception. The report further...
During the trial, lawyers for the accused said that the men believed that the accounting decisions...
During the trial, lawyers for the accused said that the men believed that the accounting decisions they made were appropriate at the time, and that the accounting treatment was approved by Nortel’s auditors from Deloitte & Touche. Judge Marrocco accepted these arguments. Marrocco added he was “not satisfied beyond a reasonable doubt” that the trio (i.e., Dunn, Beatty, and Gollogly) had “deliberately misrepresented” financial results. Given the facts of the case, do you believe Judge Marrocco’s decision was justified? Explain....
Unhealthy Accounting at HealthSouth PROBLEM In 1996, key executives of HealthSouth, one of the nation’s largest...
Unhealthy Accounting at HealthSouth PROBLEM In 1996, key executives of HealthSouth, one of the nation’s largest providers of health care services, began a massive fraud that eventually amounted to $2.7 billion. HealthSouth is a textbook case of unbridled greed combined with a lack of corporate governance, which illustrates the difficult situation that auditors face when clients perpetrate a massive, collusive fraud. HealthSouth was founded in 1984 by Richard Scrushy and coworkers at Lifemark, a Houston-based company that owned and managed...
What role could the governance of ethics have played if it had been in existence in...
What role could the governance of ethics have played if it had been in existence in the organization? Assess the leadership of Enron from an ethical perspective. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies, collapsed in 2001 under a mountain of debt...
Discuss ethical issues that can be identified in this case and the mode of managing ethics...
Discuss ethical issues that can be identified in this case and the mode of managing ethics Enron finds itself in this case. How would you describe the ethical culture and levels of trust at Enron? Provide reasons for your assessment. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events that took place at Enron and how the situation could have been dealt with differently to prevent further damage? THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT