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In a game called Taxation and Evasion,a player rolls a pair of dice.If on any turn the sum is 7,11,or 12,the player gets audited.Otherwise,she avoids taxes. Suppose a player takes 5 turns at rolling the dice.The probability that she gets audited once is .
Sarbanes-Oxley Act
A U.S. federal law enacted in 2002 that set new or enhanced standards for all U.S. public company boards, management, and public accounting firms.
CEOs And CFOs
Chief Executive Officers and Chief Financial Officers, respectively, senior executives responsible for managing the overall operations and financial actions of a company.
Primary Stakeholder
Individuals or groups most directly affected by a corporation's activities, policies, and practices, often including employees, customers, and investors.
Ethics-Auditing Process
A systematic review of an organization's ethical policies and practices to ensure they are followed and to identify areas for improvement.
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