The CLERP 9 Act requires management (both the CEO and CFO) to certify the accuracy of the financial report and provides criminal penalties for materially misstated financial reports.

Question

Quizplus · Accepted Answer

The CLERP 9 Act, part of Australian corporate law reforms, indeed requires CEOs and CFOs to certify the accuracy of financial reports and introduces criminal penalties for significant misstatements, aiming to enhance corporate governance and financial reporting integrity.

The CLERP 9 Act Requires Management (Both the CEO and CFO)