Which of the Following Statements Is not True Regarding the Sarbanes-Oxley

question 153

Multiple Choice

Which of the following statements is not true regarding the Sarbanes-Oxley Act (SOX) ?

• A)The Act calls for increased oversight responsibilities for boards of directors.
• B)The Act has resulted in increased penalties for financial fraud by top management.
• C)The Act calls for decreased independence of outside auditors reviewing corporate financial statements.
• D)The goal of the Act is to decrease the likelihood of unethical corporate behavior.

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Definitions:

Transnational Agreements

Contracts or treaties made between two or more countries to address issues that transcend national borders, such as trade, environmental protection, or security.

Globality

The condition of being global, especially in terms of the reach and impact of economic, social, and cultural processes.

Transnational Processes

Activities, practices, or phenomena that transcend national boundaries, influencing or shaping actions across countries.

Neoliberal Capitalist Markets

Economic systems characterized by free market competition, minimal government intervention, and an emphasis on privatization and deregulation.