QUESTION 31

1. The safeguarding of assets is not considered part of an entity's internal control over financial reporting.

   True

   False

2 points

QUESTION 32

1. Audit committee members must provide the independent CPA with copies of proposed company press releases.

   True

   False

2 points

QUESTION 33

1. Both CEOs and CFOs must sign and certify their company's Forms 10-K and 10-Q.

   True

   False

2 points

QUESTION 34

1. Independent CPA firms are hired by a company's audit committee. If there is no audit committee, they are hired by management.

   True

   False

2 points

QUESTION 35

1. Form S-3 is available only to issuers who have timely filed a Form 10-K for at least three years.

   True

   False

2 points

QUESTION 36

1. Performing actuarial services for an audit client may not necessarily violate the SEC independence rules.

   True

   False