How and why did the AICPA’s role change under Sarbanes-Oxley?
What will be an ideal response?
ANSWER: The AICPA no longer has exclusive authority in the private sector for promulgating auditing standards. The Auditing Standards Board advises the PCAOB before it sets auditing, attestation, and quality control standards. Audit firms became more advocates for clients than protectors of the public interest and the AICPA campaigned for a broader certification that deemphasized the CPA’s auditing responsibilities, leading to the loss of its role as police officer for self-regulation.
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Which of the following is NOT a major reason why people act competitively in teams?
a. Cultural differences b. Personality differences c. Differences in team size d. Differences in organizational rewards
By sending postpurchase letters and giving guarantees on products, marketing managers can help reduce _____
a. cognitive dissonance b. consumer involvement c. planned purchases d. need recognition
In confronting the international problems caused by lack of language training, the MOST useful advice for North Americans is to
a. be glad that English is used so widely for business transactions and not be overly concerned with the need for knowing other languages. b. try to acquire second language skills if possible, or at least learn a few words in the language of your audience. c. expect business representatives of other countries to know English. d. always travel with an interpreter.
A quorum will consist of a majority of shares entitled to vote if there are no provisions for any other number in the articles of incorporation
Indicate whether the statement is true or false