Multiple Choice Questions

1. Which of the following violation under the Sarbanes-Oxley Act of 2002 could result in imprisonment?

a. Mail fraud.

b. Failure to have an ethics enhancement program.

c. Altering or destroying documents.

d. Defrauding shareholders of publicly held companies.

e. All of the above.

f. a, c, and d.

2. Which of the following is an economic crime affected by Sarbanes-Oxley?

a. Antitrust laws

b. Taxation laws.

c. Money laundering.

d. None of the above.

e. All of the above.

3. Which of the following cannot be used to influence the sentence for violation of the Sarbanes-Oxley Act?

a. Criminal history.

b. Multiple counts of violation.

c. Acceptance of responsibility.

d. Compliance with tax laws.

e. None of the above.

4. Which of the following is a condition that must be met for an organization to qualify for a point reduction under federal sentencing guidelines?

a. Establishment of standards and procedures to detect and prevent criminal conduct.

b. Adequately funded and organized ethics program.

c. Effective training program to communicate the ethics program and compliance to the employees.

d. Length of time an ethics program has been in existence.

e. Number of employees in an organization.

f. All of the above.

g. a, b, and c

5. Which of the following is not a requirement for the PCAOB?

a. Consist of five members.

b. Have as its chairperson an active CPA.

c. Have members elected by Congress.

d. Have only two members who are or have been a CPA.

e. All of the above.

f. b and c.