Asked by Juliana Quintero on Apr 28, 2024
Verified
Under the Sarbanes-Oxley Act of 2002,it is a felony for an auditor to willfully fail to maintain proper records of audits and work papers for at least ________ years.
A) two
B) three
C) four
D) five
E) ten
Sarbanes-Oxley Act
The Sarbanes-Oxley Act is a U.S. federal law that established sweeping auditing and financial regulations for public companies, to protect investors from fraudulent financial reporting.
Felony
A serious crime, usually punishable by imprisonment for more than one year or by death.
Proper Records
Maintaining accurate and complete documentation of all transactions and operations in business, necessary for compliance and auditing purposes.
- Recognize the legal requirements and consequences under specific regulatory acts such as the Sarbanes-Oxley Act and the Computer Fraud and Abuse Act.
Verified Answer
Learning Objectives
- Recognize the legal requirements and consequences under specific regulatory acts such as the Sarbanes-Oxley Act and the Computer Fraud and Abuse Act.
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