With the Enactment of the Sarbanes-Oxley Act of 2002, CEOs

question 138

Multiple Choice

With the enactment of the Sarbanes-Oxley Act of 2002, CEOs and CFOs are now responsible for all of the following except:

• A) stipulating that the financial statements do not omit material information.
• B) attesting to the adequacy of the company's internal controls.
• C) attesting to the accuracy of the company's credit rating with the largest rating agencies.
• D) disclosing that they have notified the company's auditors and audit committee of any fraud that involves management.

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Definitions:

Age of Majority

The legally recognized age at which an individual is considered an adult and is responsible for his or her actions, with the ability to enter into legal contracts and enjoy full legal rights and obligations.

Juvenile Court

A court of law responsible for the trial or legal supervision of children under a certain age, typically those who are accused of violating a law.

Equal Protection Clause

A provision in the Fourteenth Amendment of the U.S. Constitution forbidding states from denying any person within its jurisdiction equal protection under the law.

Fourteenth Amendment

An amendment to the U.S. Constitution, guaranteeing equal protection under the law, and was instrumental in establishing civil rights.