Question 28 - their financial statements and those should...

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Christian Yimgnia Hw1-Question 28 To reinforce the combat of fraud and curb poor reporting practices the Sarbanes-Oxley law came up with some key provisions. Firstly the Public Company Accounting Oversight Board(PCAOB) was created for accounting practices to reinforce authority and establish auditing, quality control and independence standards and rules. Secondly auditors are required to be extremely independent. Then CEOs and CFOs should certify the accuracy of
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Unformatted text preview: their financial statements and those should not be used for personal bonuses and profits. The legislation also requires audit committees to be compromised of independent members and members with financial expertise. And senior financial officers should follow the code of ethics. These are the main provisions of the legislation....
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