Management and the audit committee should act promptly upon receiving a report of possible illegal acts from an independent auditor, according to the Sarbanes-Oxley Act of 2002, which mandates immediate investigation to maintain financial integrity and legal compliance.
The question revolves around the response of management and the audit committee when an independent auditor reports possible illegal acts. According to provisions laid out in the Sarbanes-Oxley Act of 2002 (SOX), management and the audit committee have a responsibility to act promptly upon such notifications.
While SOX does not provide a specific timeline for management to respond to the auditor's report of illegal activities, it emphasizes the need for immediate action to investigate and address the issue to ensure the integrity of financial reporting and compliance with applicable laws.
The legislation also establishes the Public Company Accounting Oversight Board (PCAOB) to oversee the activities of auditors, enhances the SEC's oversight capabilities, and mandates that CEOs and CFOs certify the accuracy of corporate financial statements. This act was a direct response to corporate scandals to ensure greater accountability and prevent management fraud.
An automobile company shuts down a factory, forcing hundreds of workers into unemployment. the positive externality is that the
When an automobile company shuts down a factory, potential positive externalities may arise, such as the availability of land for other uses and the reduction of pollution, contributing to the welfare of the community.
Explanation:An automobile company shutting down a factory is an example of a business decision affecting not only the company but also the surrounding community. In this case, the positive externalities are the potential impacts beyond the company. Although the direct result is the loss of jobs, there may be unexpected positive outcomes. One positive externality could be that the land where the factory was located becomes available for other uses. For example, it could be used for the development of a public park, other businesses, or housing. The reduction in pollution caused by the factory's operations could also be a positive externality, contributing to a cleaner environment and healthier surrounding communities.
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The average 6-year-old child from a developed nation weighs _____ pounds.
When a buyer reserves the right to buy a property at an agreed upon price, within a stated period of time, without being obligated to do so, it is known as a?
Rick teaches at a university and is trying to declare bankruptcy but he fails the mean test. Which bankruptcy can he file? Chapter 7 Chapter 13 Chapter 12 Chapter 15
Answer:
chapter 13
Explanation:
Poorly timed discretionary policy can do more harm than good. getting the timing right with fiscal policy is generally
Which project leadership role includes the task of handling administrative responsibilities for the team and negotiating with users who might have conflicting requirements or want changes that would require additional time or expense? department manager system analyst project manager project coordinator?
One major role that the government plays in the market economy of the u.s. is: requiring minimum levels of employment in major industries setting production targets for major industries allocating resources in various market activities setting laws governing economic activity
Beginning inventory is $12,000: purchases are $34,000: sales revenue are $60,000: and cost of goods sold is $31,000. how much is ending inventory?
The technique used by groups to generate as many ideas as possible within a limited amount of time is called
The answer to this question is brainstorming.
Brainstorming is a technique where in a group is gathered together to find a solution to a specific problem by giving ideas collaborated by its members. Brainstorming is also a way of giving ideas and encourages everyone to participate in creating a solution for the problem.
In terms of explaining the probability of assignment to trial arms in consent forms, which is true?
In trial consent forms, the process of informed consent requires providing potential participants full knowledge about their probability of assignment to different trial arms, usually determined by random assignment. The benefits and risks must be clearly outlined. Autonomy and informed consent protect participants from exploitation.
Explanation:In terms of explaining the probability of assignment to trial arms in consent forms, the principle of informed consent is vital. This means that potential participants in a clinical trial must be provided with all the relevant information about a trial to make their own decision about whether to participate.
Central to this is the probability of assignment to different trial arms, which is typically determined through random assignment. This ensures that each participant has an equal likelihood of being placed in any given treatment group, thereby enhancing the validity of the study.
Moreover, all risks and benefits associated with potential assignment to different trial arms must be clearly outlined. This information is crucial for potential participants, to make an informed decision on whether to participate. Here, the principle of Autonomy, which posits that patients have a right to exercise agency or self-determination in making their health decisions, is protected. Informed consent and participant autonomy, thus, guard against exploitation.
Regardless, it should be noted that random assignment isn't necessarily always ethical, especially in cases where one treatment is known to have beneficial effects. In such situations, instead of random assignment, researchers may compare individuals who choose to undergo the treatment to those who choose not to, while controlling for other differences in these groups (lurking variables).
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request the entrepreneur to share his or her key success factors and elaborate on this success factors
The range of ________âs work makes him difficult to categorize. in addition to paintings, prints, and combination pieces, he has done extensive set and costume design for merce cunningham and others, as well as graphic design for magazines and books.
The range of the artist’s work makes him difficult to categorize. In addition to paintings, prints, and combination pieces, he has done extensive set and costume design for Merce Cunningham and others, as well as graphic design for magazines and books.
What is graphic design?Graphic design is an art where the graphic designer generates art visually in order to communicate or convey a message. A graphic designer designs the content in such a manner that it becomes interactive in order to enhance the experience of the user. Also, the craft is modified according to the varied needs of the clients.
Thus, the range of the artist’s work makes him difficult to categorize. In addition to paintings, prints, and combination pieces, he has done extensive set and costume design for Merce Cunningham and others, as well as graphic design for magazines and books.
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Sheila went to college to study accounting, and got her first entry-level job right after graduating. however, as she gained more experience at the law firm where she worked, she became more knowledgeable about tax law and decided to make a commitment to go to law school and become a tax lawyer. according to ginzberg, sheila is in the
Jane has just deposited $2,000 in her checking account. she knows that the bank will keep part of these funds on hand and loan out the rest. this is an example of
Keynesian economists believe that real gdp might be less than full employment because
Julio has run marathons all of his life, and recently has cut back on some of his other activities to increase the time he has for training in order to maintain his running skills. this is an example of
Is waitressing considered customer service?
What is the term for an improvement in performance caused by the perception that others are watching?
Officers of the corporation are
A. appointed by the stockholders.
B. stockholders of the corporation.
C. appointed by the board of directors.
D. None of the above
The answer is C.appointed by the board of directors.
You go to an all-you-can-eat buffet. if you maximize utility, the marginal utility of the last bite that you eat will be:
A debit memorandum increases which account on the buyers books? Answer choices in picture
Tight money policy leads to an increase in
A tight money policy, or contractionary monetary policy, increases interest rates by reducing the availability of money and credit in the economy. This causes loanable funds to become scarce, thus increasing their cost, the interest rates. The result is a decrease in aggregate demand.
Explanation:A tight money policy, also known as a contractionary monetary policy, leads to an increase in interest rates. The reason behind this is simple: such a policy aims to reduce the quantity of money and credit in the economy. By doing so, it makes the available funds for loaning scarcer.
Just like with any other goods, when something becomes scarce, its price goes up. So, with less loanable funds available, the cost of borrowing such funds, which is the interest rate, increases. This pivot to higher interest rates can lead to a decrease in aggregate demand as businesses find it costlier to borrow money for investment and consumers find it more expensive to finance big-ticket purchases.
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David believes that all promotional activities should be completely eliminated. what commonly held misconception does david likely have about promotion?
A breach of _______ occurs when an agent has a conflict of interest or is disloyal to the principal.
Suppose the equilibrium aggregate price level and the equilibrium level of real gdp are both rising. this is probably the effect of a(n) _____ in aggregate _____.
How has the distribution of income in the united states changed over the last 20 years?
a. it has become more equal.
b. it has become less equal.
c. it became more equal for about 10 years but has become less equal.
d. it has not changed appreciably?
The correct answer to this question is:
b. it has become less equal.
Since 1970, the income inequality in the United States has increased significantly. This means that the income share of households receiving higher income has increased extensively, while those receiving lower income has decreased in effect. This can be attributed to a lot factors which includes the decline in labor unions, global workers competition, immigration of less-educated workers, and differences in policy, politics and race.
Answer:
b. it has become less equal.
Explanation:
Trying new things on the job is one way of keeping young
Final answer:
Trying new things on the job promotes personal growth and adaptability, fostering innovation and aiding in finding a role that aligns with one's talents. It requires a willingness to learn, adapt, and take on challenges, making it fundamental to career development and satisfaction.
Explanation:
True, trying new things on the job is indeed a way of keeping young. In a professional setting, embracing the challenge of new experiences and experimentation is a valuable mindset for personal growth and career development.
When starting something new, whether it's a job, a project, or even new responsibilities, it requires courage as there is no guarantee of success. However, this leap into the unknown can lead to significant personal and professional rewards. You learn about yourself, develop new relationships, and build valuable experience.
Companies like 3M encourage their employees to spend time on personal projects, understanding the value in fostering a culture of innovation. The labor market, especially for young workers, is dynamic, and sampling different jobs can eventually lead to finding a role that is a good fit for one's talents and preferences. In such an environment, flexibility and adaptability are key traits for an employee. A capacity to adapt to new workplace cultures and challenges is highly regarded.
For those just entering the workforce, it is important to start a new job with curiosity and a proactive approach to feedback. Being curious and seeking feedback can accelerate learning and integration into the company culture. Ultimately, maintaining a flexible attitude not only supports your ability to face new challenges but also opens up opportunities for continuous learning and job satisfaction.
Free cash flow describes the net cash provided by operating activities after adjusting for
What agency ensures that gses are using sound financial practices and have adequate capital to engage in the mortgage business?
Which term describes the economy that revolves around providing intangible services such as restaurant work, health-care provision, higher education, legal advice, computer tech support, and massage?