Question
Josh and Mike are discussing the pros and cons of the Sarbanes-Oxley Act. While Josh argues that the act has a high compliance cost, Mike
Josh and Mike are discussing the pros and cons of the Sarbanes-Oxley Act. While Josh argues that the act has a high compliance cost, Mike is of the opinion that companies can easily avoid these costs by choosing to go dark and delisting their shares from exchanges. Josh, in turn, states that such a choice comes with its own drawbacks. Which of the following statements best supports Joshs argument?
Which is the best answer..
Companies that choose to go dark typically have only limited access to capital markets.
Companies that go dark are required to file annual reports.
Mandatory annual audits by independent auditors are carried out regardless of whether or not companies choose to go dark.
Executives of companies that choose to go dark are required to certify the accuracy of financial statements.
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