Which of the Following Is True Regarding Activities of the Public

question 86

Multiple Choice

Which of the following is true regarding activities of the Public Company Accounting Oversight Board?

• A) The Board ensures that auditors and public accounting firms compile accurate and truthful financial reports for the companies they audit, but it has no responsibility in regard to whistle-blowing protection.
• B) The Board requires that companies devise a system that allows employees to report suspicions of unethical behavior, but it does not address financial reports prepared by auditors and public accounting firms.
• C) The Board requires that the universalization test be used as the primary ethical guideline and also mandates protection for whistle-blowers who report suspicious activity involving financial reports.
• D) The Board ensures that auditors and public accounting firms compile accurate and truthful financial reports for the companies they audit and also requires that companies devise a system that allows employees to report suspicions of unethical behavior.
• E) The Public Company Accounting Oversight Board was abolished during the Obama administration and no longer exists.

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Definitions:

Postzygotic Barriers

Reproductive isolation mechanisms that occur after fertilization, preventing the development into fertile offspring.

Gene Transfer

The process by which genetic material is moved from one organism to another, occurring naturally or through genetic engineering techniques.

Reproduction

The process by which new individuals are produced. See asexual reproduction and sexual reproduction.

Continental Drift

The gradual movement of continents across the earth's surface over geological time, driven by plate tectonics.