The Private Securities Litigation Reform Act Imposes Additional Requirements on Public

question 43

Multiple Choice

The Private Securities Litigation Reform Act imposes additional requirements on public companies reporting to the SEC and their auditors when:

• A) The illegal act has a material effect on the financial statements
• B) Senior management and the board have not acted properly to correct for the act
• C) The failure to correct for the action is reasonably expected to warrant a departure from the standard audit report
• D) All of the above are additional requirements

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