$1/$ Explain how the concept of preemption applies when there is a conflict between local laws, state laws, and federal laws.

$2/$ Discuss the consequences of violating the Sarbanes$-$Oxley Act of $2002.$

$3/$ Why are the legal standards different for criminal and civil matters? Separately iden$-$ tify the differences between these two types of matters from the perspectives of the defendant and the plaintiff$/$prosecut

$4/$ Section $404$ of the Sarbanes$-$Oxley Act requires companies to perform self$-$

assessments of risks for business processes that affect financial reporting.

What are some business processes that could result in risks affecting financial reporting?