The 2010 Dodd-Frank Act includes additional incentives for whistleblowers. What is the act's effect on whistleblowing by accountants?
A) No accountant, internal or external, whether by job title or certification may receive a reward.
B) All accountants who whistle-blow are protected against retaliation, but may not receive a reward.
C) Internal auditors who whistle-blow may not receive a reward.
D) A CPA may report a violation of a public accounting firm's performance in an audit.

Question

Quizplus · Accepted Answer

The Dodd-Frank Act allows CPAs to report violations of public accounting firms' performance in an audit and be eligible for a reward, as long as the report is made to the Securities and Exchange Commission (SEC). However, internal auditors are not eligible for a reward under the act. All whistleblowers, including accountants, are also protected against retaliation by their employers. Therefore, option A and B are incorrect.

The 2010 Dodd-Frank Act Includes Additional Incentives for Whistleblowers