1)Sarbanes-Oxley provides that whenever there is a restatement of the company\'s
ID: 448261 • Letter: 1
Question
1)Sarbanes-Oxley provides that whenever there is a restatement of the company's financial condition, then the executives:
2)
Due diligence defense requires that an expert prove that a reasonable investigation of the financial statements of the issuer and _____ was conducted.
3)
The Fair Credit Reporting Act applies to anyone who prepares or uses a credit report in connection with:
A. would be morally rather than legally culpable for the bonuses paid as a result of the incorrect financial statements. B. have to forfeit their salaries to cover for the amount of the bonuses paid to them on the basis of incorrect financial statements. C. would not be legally bound to return any bonuses paid as a result of the incorrect financial statements. D. must return any bonuses paid as a result of the incorrect financial statements along with the interest. E. must return any bonuses paid as a result of the incorrect financial statements.Explanation / Answer
1)Sarbanes-Oxley provides that whenever there is a restatement of the company's financial condition, then the executives:
E. Must return any bonuses paid as a result of the incorrect financial statements.
2. Due diligence defense requires that an expert prove that a reasonable investigation of the financial statements of the issuer and _____ was conducted.
C. Underwriters
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