While the Sarbanes-Oxley Act (SOX)contains Many Provisions,the Overall Intent of the Legislation

question 15

Multiple Choice

While the Sarbanes-Oxley Act (SOX) contains many provisions,the overall intent of the legislation was to improve the accuracy of information given to both boards and to shareholders.SOX attempted to achieve this goal in all of the following ways,EXCEPT:

• A)overhauling incentives and independence in the auditing process.
• B)mandating the separation of the positions of CEO and Chairman of the Board.
• C)stiffening penalties for providing false information.
• D)forcing companies to validate their internal financial control processes.

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Definitions:

Little Information

A situation where there is a lack of sufficient or detailed data to fully understand a topic or make informed decisions.

Media

Various means of communication, including television, radio, newspapers, and the internet, used to disseminate information to the public.

Foreign Market

A market outside the domestic boundaries of a country where goods, services, and capital are traded.

Packaging

The technology and art of enclosing or protecting products for distribution, storage, sale, and use.