Which of the Following Is True Regarding Activities of the Public

question 43

Multiple Choice

Which of the following is true regarding activities of the Public Company Accounting Oversight Board?

• A)The Board requires that companies devise a system that allows employees to report suspicions of unethical behavior,but it does not address financial reports prepared by auditors and public accounting firms.
• B)The Board requires that the universalization test be used as the primary ethical guideline and also mandates protection for whistle-blowers who report suspicious activity involving financial reports.
• C)The Public Company Accounting Oversight Board was abolished during the Obama administration and no longer exists.
• D)The Board ensures that auditors and public accounting firms compile accurate and truthful financial reports for the companies they audit,but it has no responsibility in regard to whistle-blowing protection.
• E)The Board ensures that auditors and public accounting firms compile accurate and truthful financial reports for the companies they audit and also requires that companies devise a system that allows employees to report suspicions of unethical behavior.

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Definitions:

Mental Disorders

Disorders that affect mood, thinking, and behavior, often requiring clinical intervention for diagnosis and treatment.

Socio-Emotional Selectivity Theory

A theory suggesting that as people age, they prioritize emotionally meaningful goals and relationships due to perceptions of decreasing time.

Negative Information

Data or facts that are unfavorable, distressing, or undesirable, often influencing perceptions or decisions.

Mental Illnesses

Disorders that affect mood, thinking, and behavior, ranging from depression and anxiety to schizophrenia and bipolar disorder.