According to the Sarbanes-Oxley Act of 2002,the Audit Committee of the Board

question 118

Multiple Choice

According to The Sarbanes-Oxley Act of 2002,the audit committee of the board of directors is directly responsible for

• A)hiring and firing the external auditors.
• B)performing tests of the company's internal control structure.
• C)certifying the accuracy of the company's financial reporting process.
• D)overseeing day-to-day operations of the internal audit department.

Grasp the principles of investor protection and responsibilities within the securities market.

Analyze the structure and impact of regulatory bodies on auditing and financial reporting standards.

Understand the basic principles of accounting and financial statements.

Calculate changes in owner's capital and understand factors affecting those changes.

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Definitions:

Borderline Personality Disorder

A mental health disorder characterized by unstable moods, behavior, and relationships, with symptoms often including emotional instability, feelings of worthlessness, insecurity, and impulsivity.

Reduced Awareness

A state or condition in which an individual's perception and recognition of external stimuli are decreased.

Wild Mood Swings

Rapid and intense changes in emotional state without a clear cause.

Hallucinations

Perceptions in the absence of external stimuli that have qualities of real perception, often experienced in auditory or visual forms.