Best Friends,Incorporated is a publicly traded company where three BFF's (best friends forever)serve as its key officers.This situation
A) is a violation of the Sarbanes-Oxley Act.
B) violates the Securities and Exchange Act.
C) increases the risk associated with an audit.
D) must be changed before your audit firm could accept the audit engagement.

Question

Quizplus · Accepted Answer

Having key officers who are close friends can increase the risk of collusion and lack of independence, which can complicate the audit process.

Best Friends,Incorporated Is a Publicly Traded Company Where Three BFF's