Financial Fraud strategies may include which of the below?

Group of answer choices

omitting liabilities from the balance sheet

understating expenses

overstating expenses

both a and b

all of the above

SOX provides that firms MAY perform which of the following types of NON-audit services for public company audit clients?

Group of answer choices

financial information system design and implementation

valuation and appraisal services

serving as expert witness in court

all of the above

none of the above

Under SOX, it is INappropriate for an audit Partner to overtly market NON-audit services to an audit client.

Group of answer choices

True

False

SOX mandates that an auditor of a public company is required to retain all audit working papers for ____ years.

Group of answer choices

three

five

seven

ten

Triggering events that may allow auditors and others to directly inform the SEC of client misconduct include which of the below?

Group of answer choices

A person reasonably believes that disclosure is needed to prevent substantial injury to the financial interests of an entity or its investors, currently or in the future.

A person reasonably believes that an entity is about to impede an investigation, such as by destroying documents or coercing witnesses.

A whistleblower submitted information internally to a company at least 120 days ago, and securities violations have not yet been corrected.

all of the above

none of the above