Explain the CEO and CFO certification provision of the Sarbanes-Oxley Act (SOX) of 2002.
What will be an ideal response?
The CEO and CFO of a public company must file a statement accompanying each annual and quarterly report, certifying that the signing officer has reviewed the report; that, based on the officer's knowledge, the report does not contain any untrue statement of a material fact or omit to state a material fact that would make the statement misleading; and that the financial statement and disclosures fairly present, in all material aspects, the operation and financial condition of the company. A knowing and willful violation is punishable by up to 20 years in prison and a monetary fine.
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Application controls apply to a wide range of exposures that threaten the integrity of all programs processed within the computer environment
Indicate whether the statement is true or false
Estimates are based on both subjective and objective factors
a. True b. False Indicate whether the statement is true or false
An integrated group of programs that supports the applications and facilitates their access to specified resources is called a (an)
a. operating system. b. database management system. c. utility system d. facility system. e. object system.
Answer the following statements true (T) or false (F)
1. In terms of strategic planning, top and middle managers are more involved with planning, whereas the lower-level functional managers and employees implement the operational strategies on a day-to-day basis. 2. An important part of controlling is staying within the budget when appropriate or changing it when necessary to meet changes in the dynamic environment. 3. One reason strategic plans fail is that no action is taken to implement the strategy. 4. The current global trend is for companies to go it alone and compete head on. 5. While selecting strategies and planning, implementing, and controlling them, be sure to be ethical at all stages.