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:

Coping Technique

A method or strategy used by an individual to deal with stressful situations, emotions, or challenges.

Self-discrepancy

The gap between one's actual self and ideal or ought selves, which can influence emotions and behaviors.

Social Comparison

The process of evaluating oneself by comparing with others, often to assess one's abilities, status, or opinions.

Expanding

This refers to the process of increasing in size, volume, quantity, or scope.