Sarbanes Oxley Act, Finance And Accounting

Question: What must annual reports contain in order to be compliant with section 404?
A
Profit and loss statement

B
Management discussion and analysis

C
An assessment of the effectiveness of the company's internal control structure

D
Auditor attestation

Note: Answer not sure
1. Report
Question: What is COBIT akin to from the Accounting world?
A
SEC

B
GAAP

C
IRS

D
Tax Law

Note: Answer not sure
1. Report
Question: What is the general implementation process for SOX in order?
A
Sign off, Audit, Corrections, Documentation

B
Audit, Sign off, Corrections, Documentation

C
Documentation, Sign off, Audit, Corrections

D
Documentation, Audit, Corrections, Sign off

Note: Answer not sure
1. Report
Question: What is a whistleblower?
A
An employee who alerts authorities to potential illegal activity in a company

B
A team leader in the firm

C
The police

Note: Answer not sure
1. Report
Question: What is the PCAOB?
A
Private Company Act Oversight Board

B
Public Company Accounting Oversight Board

C
Private Control Accounting Oversight Board

D
Public Corporation Act of Betrayal

Note: Answer not sure
1. Report
Question: Which agency was created because of the act?
A
Public Company Accounting Oversights Board

B
The Internal Revenue Service

C
The Securities and Exchange Commission

D
The Institute for International Accounting

Note: Answer not sure
1. Report
Question: Who is held responsible at the corporate level once SOX has been signed off by the auditors?
A
ccounting staff

B
Mid level managers

C
Secretaries and record keepers

D
Corporate officers

Note: Answer not sure
1. Report
Question: What do COBIT standards indicate?
A
Best practices for Accounting processes

B
Best practices for management processes

C
How to document processes

D
Best practices for IT processes and models to assist in improving them

Note: Answer not sure
1. Report
Question: Which departments are required to be involved in documentation for SOX?
A
Only executive offices

B
Accounting only

C
Human resources and accounting

D
All departments which impact accounting and record keeping

Note: Answer not sure
1. Report
Question: What is corporate fraud?
A
When an employee is convicted of performing personal fraud

B
When one company defrauds another

C
Selling stock of the company

D
When fraud is conducted by a corporation or people who can act on behalf of the corporation

Note: Answer not sure
1. Report

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Question: What must annual reports contain in order to be compliant with section 404?

Question: What is COBIT akin to from the Accounting world?

Question: What is the general implementation process for SOX in order?

Question: What is a whistleblower?

Question: What is the PCAOB?

Question: Which agency was created because of the act?

Question: Who is held responsible at the corporate level once SOX has been signed off by the auditors?

Question: What do COBIT standards indicate?

Question: Which departments are required to be involved in documentation for SOX?

Question: What is corporate fraud?