Under the _____, CEOs and CFOs may be criminally prosecuted if they knowingly certify misleading financial statements.
A)Sherman Antitrust Act
B)Ethical Compliance Act
C)Robinson-Patman Act
D)Sarbanes-Oxley Act
E)Dodd-Frank Act

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act (SOX) holds CEOs and CFOs responsible for certifying the accuracy of a company's financial statements, and they can be criminally prosecuted if they knowingly provide false information. The other acts listed (Sherman Antitrust Act, Robinson-Patman Act, Ethical Compliance Act, and Dodd-Frank Act) do not specifically address the certification of financial statements or hold CEOs and CFOs accountable in the same manner as SOX.

Under the _____, CEOs and CFOs May Be Criminally Prosecuted