While the Sarbanes-Oxley Act (SOX)contains Many Provisions,the Overall Intent of the Legislation

question 33

Multiple Choice

While the Sarbanes-Oxley Act (SOX) contains many provisions,the overall intent of the legislation was to improve the accuracy of information given to both boards and to shareholders.SOX attempted to achieve this goal in all of the following ways except

• A) overhauling incentives and independence in the auditing process.
• B) mandating the separation of the positions of CEO and Chairman of the Board.
• C) stiffening penalties for providing false information.
• D) forcing companies to validate their internal financial control processes.

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Definitions:

Empathetic Attitudes

Describes the capacity to understand and share the feelings of others, often leading to supportive and considerate behaviors.

Competitive Advantage

An attribute or set of attributes that allows an organization to outperform its competitors.

Self-absorbed

Characteristic of an individual who is overly focused on themselves, their interests, and their needs, often at the expense of others.

Marathon

A long-distance running race, officially 42.195 kilometers (26.219 miles), requiring endurance and stamina.