The 2002 Sarbanes-Oxley Act Forbids Use of an Audit Committee

question 69

True/False

The 2002 Sarbanes-Oxley Act forbids use of an audit committee by the board of a publicly held corporation; the full board must oversee the work of the public accounting firm employed to audit the corporate books.

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Definitions:

Normally Distributed

Describes a distribution that is symmetrical, bell-shaped, and characterized by data equally spread around the mean, implying many measurement observations fall close to the average.

Mean

The average value in a set of numbers calculated by dividing the sum of all values by the number of values.

Z-scores

Standardized scores that indicate the number of standard deviations an element is from the mean.

Shaded Area

Often used in graphs and charts to represent a particular section, range, or subset of data visually.