1) 1) H. Mickey Gill is the Accounts Payable manager for XYZ, Inc., a commercial factor 5 specializing in purchasing the receivables of other companies. In this capacity, Gill is responsible for paying the company's expenses in a timely manner. The normal procedure is that the department receives invoices for bills to be paid which are subsequently attached to vouchers that are filled out and submitted transactions. After meticulously checking the paperwork, Gill approves the vouchers by initialing them, and the department will cut the checks. by other members of the department who process the The company's check signing policy is as follows: a) b) c) Checks above $200,000 are signed by the company's president, Sandra Each of the offiers has a rubber stamp facsimile of her signature. In addition to enjoying Checks between $1 and $50,000 are signed by the company's controller, Beth Wild. Checks between $50,001 and $200,000 are signed by the company's chief financial officer, Susan Parrino. Leger a clandestine office affair with his recently divorced boss, Wild, the happily single Gill comes across information that Parrino keeps her stamp on top of her desk at all times, in plain view. If Mickey and Beth conspired to embezzle $4 million from the company, and actually did so, would Parrino and Leger be liable for the corporation's losses under Sarbanes-Oxley? Why or why not? Be sure to explain the reasons for your