All of the following are important provisions of the Sarbanes-Oxley Act except:
a. The establishment of a new Public Company Accounting Oversight Board.
b. The requirement to prepare both FASB and IASB financial statements.
c. A requirement that the external auditors report directly to the company's audit committee.
d. A clause to prohibit public accounting firms that audit a company from providing any other services that could impair their ability to act independently in the course of their audit.
b
You might also like to view...
Which of the following statements does not properly describe accounting for OPEB plans?
A. OPEB plans are deemed to be riskier than other debt instruments. B. Losses related to OPEB arise from a decrease in the discount rate assumptions. C. OPEB plans are mandatorily funded under the same ERISA rules as pension plans. D. Losses related to OPEB arise from an increase in the life expectancy assumptions.
Marian has made it through the interview process and has been given an offer of employment conditional to her passage of an integrity test. When she takes the test and begins to answer, what form will her answers most likely take?
a. a range between “strongly disagree” and “strongly agree” b. short essay responses giving personal opinions c. “yes” or “no” d. verbal responses that include emotional reactions
The ending inventory for Wyeth Company was overstated by $6,000 in 2014 . The overstatement will cause Wyeth Company's
a. retained earnings to be understated on the 2014 balance sheet. b. 2015 balance sheet not to be misstated c. cost of goods sold to be overstated on the 2014 income statement. d. cost of goods sold to be understated on the 2015 income statement.
Panel data are always secondary data.
Answer the following statement true (T) or false (F)