Asked by Willis Sands on Jun 15, 2024
Verified
Dez is the chief financial officer of Elements Corporation, which is required to file certain financial statements with the Securities and Exchange Commission (SEC) . Under the Sarbanes-Oxley Act of 2002, Dez must personally
A) certify that the statements are accurate.
B) delegate the responsibility for preparing the statements.
C) deliver the statements to the appropriate SEC officer.
D) prepare the statements.
Sarbanes-Oxley Act
A U.S. federal law established to protect investors from fraudulent financial reporting by corporations.
Financial Statements
Documents that provide an overview of a company's financial condition, including the balance sheet, income statement, and statement of cash flows.
Securities and Exchange Commission
The Securities and Exchange Commission (SEC) is a U.S. federal agency responsible for regulating the securities industry and protecting investors by enforcing laws against market manipulation.
- Comprehend the necessity of authentic financial reporting by corporate officers as mandated by federal law.
Verified Answer
AA
Arlene A. LaquianJun 16, 2024
Final Answer :
A
Explanation :
The Sarbanes-Oxley Act of 2002 requires chief financial officers and chief executive officers to personally certify the accuracy of the financial statements their companies file with the SEC. This provision is aimed at ensuring accountability and accuracy in financial reporting.
Learning Objectives
- Comprehend the necessity of authentic financial reporting by corporate officers as mandated by federal law.