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

question 15

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:

Design Thinking

Thinking that unlocks creativity in decision-making through a process of experiencing, ideation, and prototyping.

Visualizing And Brainstorming

A method used in planning and problem-solving that involves picturing a scenario or solution and generating creative ideas through collaborative discussion.

Representativeness Heuristic

A cognitive shortcut where individuals assess the likelihood of an event based on how closely it resembles their mental stereotypes or categories.

Previously Existing Value

The worth or importance of something that was recognized or established before the current situation.