Under the Private Securities Litigation Reform Act, If an Auditor

question 25

Multiple Choice

Under the Private Securities Litigation Reform Act, if an auditor concludes that an illegal act with a material effect on the financial statements has been reported to, but not dealt with by senior management, the auditor should then report his/her conclusions to

• A) The Securities and Exchange Commission
• B) The company's board of directors
• C) The office of the controller/comptroller for the appropriate state
• D) The Federal Bureau of Investigation

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Definitions:

Psychogenic Fugue

A dissociative disorder characterized by reversible amnesia for personal identity, including the memories, personality, and other identifying characteristics of individuality.

Neurotransmitter Imbalance

A condition in which there is an imbalance in the levels of neurotransmitters in the brain, often linked to various mental health disorders.

Neurotic Personality

A trait characterized by being prone to emotional instability, anxiety, moodiness, worry, and envy.

Onset of Depression

The initial period or starting phase when symptoms of depression begin to manifest in an individual.