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
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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.

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