According to the Sarbanes-Oxley Act of 2002, if a company must restate financial statements due to material noncompliance with a financial reporting requirement, the act requires that the CEO .
A)open his or her private records for investigation by an independent auditor
B)repay any bonuses received during the 12 months prior to the issuance of the financial statements in question
C)make a public apology to stock holders
D)resign from the position of CEO
E)all of the above

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act requires the CEO to repay any bonuses or other incentive-based or equity-based compensation received during the 12 months prior to the issuance of the financial statements that need to be restated due to material noncompliance.

According to the Sarbanes-Oxley Act of 2002, If a Company