Which of the following is NOT true regarding the Sarbanes-Oxley Act?
A) The Act mandates the composition and authority of audit committees at public companies.
B) The Act prohibits personal loans to executives.
C) The Act requires corporations to disclose whether they have a code of ethics applicable to senior financial officers and, if not, to disclose why not.
D) The Act gives the SEC the authority to prohibit unfit persons from serving as officers or directors of a public company for a period of five years.
Correct Answer:
Verified
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