Joan Blondell has been CEO of Xenon Corporation for five years.Following an SEC investigation,Xenon and Joan were both charged with fraudulent financial statements.Joan says that she knew nothing about the fraud and feltthat the financial reports were accurate.Which of the following statements is true?
A) Joan cannot be charged with securities fraud if she was not aware of the financial fraud.
B) Joan can be charged because she certified the financial statements under SOX.
C) Joan cannot use the willful ignorance defense.
D) Joan is not responsible for the financial statements under SOX.
Correct Answer:
Verified
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