Unformatted text preview: Solution: CEO and CFO are responsible for compensating for misleading or false information. Consequence: Responsibility is placed on the CEO and the CFO. 305-Problem: There was no enforcement of the rules and regulations of the SEC. Solution: The SEC has total and complete control over who can work in the accounting industry. Consequence: Companies have to open their books up to the SEC and they have control over the company’s assets and employees. 306-308-Problem: Employees were taking advantage of the company’s stock and assets. Solution: Amount of stock and assets owned by one person is regulated and monitored. Consequence: Takes more work to regulate the outside finances of the company and its effects....
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- Spring '08