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An audit committee members of an issuer is required under SOX 2002 to maintain which of the following attributes:
SOX 2002 states that members of the audit committee are to be members of the board of directors but otherwise independent. To be independent, the members may not accept compensation or be an affiliated person.
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Which of the following criteria is necessary to be an audit committee financial expert, specified in SOX 2002?
The issuer's audit committee's financial expert must have experience with internal controls. The may be through past experience or education.
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The Sarbanes-Oxley Act of 2002 seeks to improve investor confidence by allowing for greater transparency for all of the following issues except:
ERM concepts specifically address investor issues surrounding risk and growth however SOX 2002 focuses on less strategic operations and more on financial reporting issues including ethics.
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According to the Sarbanes-Oxley Act of 2002, a chief executive officer who misrepresents the company's finances may be penalized by being:
An individual who knowingly executes securities fraud will be both fined or imprisoned not more than 20 years or both.
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According to SOX 2002, anyone who knowingly alters, destroys, covers up, or makes false entry in a document with the intent to obstruct an investigation within any agency of the United States may be fined and/or imprisoned for up to:
The penalty for altering documents is punished up to 20 years.
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The SOX 2002 code of ethics for senior officers includes and promotes:
SOX 2002 does not involve or necessitate fair pay for members of a company. It promotes the ethical and legal promotion of business.
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