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) repay any bonuses received during the 12 months prior to the issuance of the financial statements in question
B) make a public apology to stock holders
C) resign from the position of CEO
D) All of the above.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act requires that the CEO (and CFO) 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