Taylor, who is conducting an audit of Oakwood Corporation, becomes aware of information that indicates Oakwood was involved in an illegal payment. Discuss Taylor's responsibilities
Taylor must first determine whether an illegal act occurred and its possible effect on Oakwood's financial statements. Then Taylor must inform Oakwood's management about any illegal activity and assure that the audit committee of the board of directors of Oakwood is adequately informed. If Taylor concludes that the illegal act has a material effect on Oakwood's financial statement, neither senior management nor the board has taken timely and appropriate remedial action, and the failure to take remedial action is reasonably expected to warrant departure from a standard auditor report or warrant resignation from the auditor's engagement, Taylor must promptly report her conclusions to Oakwood's board. Within one day of receiving such a report, Oakwood must notify the SEC and furnish Taylor with a copy of the notice. If she doesn't receive such a notice, she may resign, but whether or not she resigns, she must furnish the SEC with her report to the board
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Product profiling ______.
A. is a way to evaluate the alignment of the needs of a company’s markets with its processes B. identifies the key product and service dimensions required by a market to be in compliance with government regulations C. identifies the key product and service dimensions required by a market to be in compliance with ISO requirements D. identifies the key product and service dimensions required by a market to be in compliance with state audits
Upon bankruptcy being declared, all the assets of the bankrupt are transferred into the possession of the Trustee in Bankruptcy
Indicate whether the statement is true or false
The term "additional funds needed (AFN)" is generally defined as follows:
A. Funds that a firm must raise externally from non-spontaneous sources, i.e., by borrowing or by selling new stock to support operations. B. The amount of assets required per dollar of sales. C. The amount of internally generated cash in a given year minus the amount of cash needed to acquire the new assets needed to support growth. D. A forecasting approach in which the forecasted percentage of sales for each balance sheet account is held constant. E. Funds that are obtained automatically from routine business transactions.
Gracie orders a dress from J.C.Penney's straight from its website. Marilyn goes to the J.C.Penney's store to purchase the same dress. Gracie is using a _____________ marketing channel, and Marilyn is using a ____________ marketing channel.
A. producer-to-retailer-to-consumer; producer-to-retailer-to-consumer B. producer-to-retailer-to-consumer; producer-to-wholesaler-to-retailer-to-consumer C. producer-to-retailer-to-consumer; producer-to-agent-to-wholesaler-to-retailer-to-consumer D. producer-to-consumer; producer-to-retailer-to-consumer E. producer-to-consumer; producer-to-agent-to-wholesaler-to-retailer-to-consumer