According to Sarbanes Oxley, at least one audit committee member should be financial expert. Discuss some criteria

Question:

According to Sarbanes Oxley, at least one audit committee member should be ‘financial expert’. Discuss some criteria that should be met.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Auditing An Introduction to International Standards on Auditing

ISBN: 978-0273768173

3rd edition

Authors: Rick Hayes, Philip Wallage, Hans Gortemaker

See More Books

Question Posted: May 23, 2018 06:17 AM

See More Questions

Audit committees are taking on added responsibilities after Sarbanes-Oxley. Required a. Describe the changes in audit committee membership and duties that were mandated by the Sarbanes-Oxley Act of...
Audit committees are an important corporate governance party and have taken on additional responsibilities following the passage of the Sarbanes-Oxley Act. a. Describe the changes in audit committee...
The Sarbanes- Oxley Act was passed by the U. S. Congress in 2002, following financial reporting disasters of Enron Corp. and WorldCom Inc. (Section 1.2). Section 404 of the Act required that senior...
Suppose a single 802.11n client is connected to an 802.11n access point and there is no other client or access point in the neighborhood. The client senses the medium, then sends a 2000-Byte frame,...
Wolf Paints is a national paint manufacturer and retailer. The company is segmented into five divisions: Paint Stores (branded retail locations), Consumer (paint sold through home improvement...
The following equilibrium constants have been found experimentally when CO 2 is in contact with water Compute the pH of water at each of the CO 2 concentrations in air. CO (gas) CO (dissolved) with...
Statistical agencies. Write a short description of the work of one of these government statistical agencies. You can find information by starting at the FedStats Web site (www.fedstats.gov) and going...
Use the model in File C08 to solve this problem. Stendardi Industries 2015 financial statements are shown in the following table. Assume that the firm has no excess capacity in fixed assets, that the...
The Tamarisk Company issued $330,000 of 9% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds were issued at 99. Prepare the...
Sharon Lowe, vice president for marketing for the Electronic Toys Company, is about to begin a project to design an advertising campaign for a new line of toys. She wants the project completed within...
Should the audit committee review design and operating effectiveness of internal controls? Do you think the audit committee is part of internal control?
There are four stereoisomeric aldotetroses. (a) Draw all four, and arrange them in pairs of enantiomers. (b) Identify which stereoisomers are d sugars and which are l sugars.
The aerodynamic drag of a new sports car is to be predicted at a speed of 60.0 mi/h at an air temperature of 25C. Automotive engineers build a one-third scale model of the car (Fig. P742E) to test in...
Watch Tre'Shawn's story (The QR code is in your text) https://www.youtube.com/watch?v=smIZLtDSPhU Using Chart 3.2 in your textbook describe what typical development for a 14-year-old boy would be...
Q17. An insurance company charges $500 for an insurance policy against fire and theft in the home. If a home is destroyed by fire, then the insurance company will pay the homeowner $250,000. What is...
If y = x ( 9 x + 5 ) , compute y ' .
1. Print out your name and section. 2. Create a java code to find speed of a car. a. Import the required codes to allow the user to enter data. b. The formula for speed is speed=distance/time. c. Ask...
Complete the square for 9 x 2 - 9 0 x + y 2 + 8 1 = 0
In Exercises 52 through 56, you need to know that a cylinder of radius r and height h has volume V = r 2 h and lateral (side) surface area S = 2rh. A circular disk of radius r has area A = r 2 . A...
What will be the final value of DI after executing the following piece of code? Execute the instructions dependently one after another. CLD MOU CX,OFOH MOU AX.02874H MOU DI,01000H MOU ES, DI SUB...
Is there a solution to this problem? Explain your answer.
Identify the supply chain management problems LG Electronics faced. What was the business impact of its inability to manage its supply chain well?
What management, organization, and technology factors contributed to LGs supply chain problems?
you are analyzing the cost of debt for a firm. Do you know that the firms 14 year maturity, 7.8 Percent coupon bonds are selling at a price of $834. The Barnes pay interest semi annually. If these...
***Please answer the following using excel and showcasing the formulas/calculations used*** thank you so much Financial information on AAA Ltd. is shown below. AAA Ltd. Income Statement For the Year...
2. In an account Anh Paglinawan currently has $216,670.00. At a rate of 8.00% how long will it take for them to have $298,390.00 assuming semi-annually compounding? (Hint: compute the exact years, do...

According to Sarbanes Oxley, at least one audit committee member should be financial expert. Discuss some criteria

Question:

Step by Step Answer:

Section 407 of the SarbanesOxley Act states that the SEC shall issue rules to require issuers to dis...View the full answer

Principles of Auditing An Introduction to International Standards on Auditing

Students also viewed these Business questions