The Sarbanes-Oxley Act Requires All of the Following EXCEPT

question 51

Multiple Choice

The Sarbanes-Oxley Act requires all of the following EXCEPT

• A) installation of an outsider as the lead director on the Board of Directors.
• B) accounting firms are forbidden from providing both auditing and consulting services to clients.
• C) CEOs and CFOs must personally certify the company's financial reports.
• D) independence of the committees on the firm's Board of Directors.

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Definitions:

Capital Flight

Capital flight refers to the sudden and large-scale outflow of financial assets and capital from a country due to economic or political instability.

Supply Of Dollars

The total amount of US dollars available in the economy, including physical currency and bank balances.

Foreign-Currency Exchange

The process of exchanging one currency for another, determining how much of one currency you can get for another.

Net Capital Outflow

The difference between the domestic country's total investment abroad and foreign investments within the domestic country.