In Addition to Requiring That CEO's Personally Certify the Accuracy

question 137

Multiple Choice

In addition to requiring that CEO's personally certify the accuracy of financial statements, the United States' Sarbanes-Oxley Act of 2002 (which resembles Bill 198 and other initiatives by the
Canadian Securities Administrators) also requires that

• A)CEO's conduct audits of their corporations themselves.
• B)firms raise funds for expansion through the sale of bonds only, not stocks.
• C)auditors disclose any potential conflicts of interest.
• D)corporations issue financial statements monthly rather than quarterly.

---

Definitions:

Club Fungi

A group of fungi characterized by the production of spores on club-shaped structures called basidia.

Ascomycota

Ascomycota, also known as sac fungi, is a division of fungi that store their spores in a sac-like structure called an ascus.

Basidiomycota

A phylum of fungi characterized by producing spores on basidia, often found as mushrooms, toadstools, smuts, rusts, and puffballs.

Black Bread Mold

A common type of fungus that grows on bread and other food items, causing spoilage.