Joan is the CFO of Para Corp. and is a year from retirement. In order to guarantee herself a very substantial bonus and to boost her retirement package, she knowingly certifies false financial reports that make the company appear to be much more profitable than it really is. She further takes steps to ensure that the financial report does not get reviewed through internal controls maintained by Para Corp. Under provisions of the Sarbanes-Oxley Act, what are the possible penalties that may be imposed when her actions are discovered?

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The Answer of Joan is the CFO of Para Corp. and is a year from retirement. In order to guarantee herself a very substantial bonus and to boost her retirement package, she knowingly certifies false financial reports that make the company appear to be much more profitable than it really is. She further takes steps to ensure that the financial report does not get reviewed through internal controls maintained by Para Corp. Under provisions of the Sarbanes-Oxley Act, what are the possible penalties that may be imposed when her actions are discovered?

Joan Is the CFO of Para Corp