• AspartoftheSarbanes-OxleyAct,corporateofficersarenolongerabletopassthebuckofresponsibilityforensuringadequatecontrolsoverfinancialstatementsandreportingactivitiesthusensuringtheaccuracyoffinancialstatements.AssesstheadequacyoftheprovisionscontainedwithintheAct,indicatingwhetherornotyoubelieverequirementswillimprovetheaccuracyoffinancialstatementsandreporting.Providesupportforyourrationale.
• Given the requirements contained in the Act for CEO and CFOs to certify the adequacy of controls and financial statement accuracy, evaluate your comfort level with this requirement should you become a CFO of a publically traded company. Provide support for your rationale.