The ________ requires the managers and auditors of companies whose stock is traded on an exchange (called public companies) to document and certify the system of internal controls.
What will be an ideal response?
Sarbanes-Oxley Act or SOX
You might also like to view...
An understatement of reported net income for the current year would result from
A) an overstatement of ending inventory in the previous period. B) an overstatement of ending inventory in the current period. C) failure to record accrued payroll liabilities. D) failure to record expiration of prepaid insurance.
U.S. GAAP and IFRS allows the use of present value to calculate the cost of an asset except:
a. When assets are held for more than one year. b. When assets are held for less than one year. c. When assets are depreciated using the straight line method d. When asset are sold in the middle of the accounting cycle.
What is insider trading?
What will be an ideal response?
Define a qualified prospect.
What will be an ideal response?