Corporations' chief executive officers are directly accountable for the accuracy of financial statements filed with the Securities and Exchange Commission.

Question

Quizplus · Accepted Answer

This statement is true. Under the Sarbanes-Oxley Act of 2002, CEOs are required to sign certifications affirming the accuracy of financial statements submitted to the Securities and Exchange Commission. They can face penalties and even criminal charges if they knowingly certify inaccurate statements.

Corporations' Chief Executive Officers Are Directly Accountable for the Accuracy