The Sarbanes-Oxley Act orders the FASB to hold chief executives and CFOs responsible for the accuracy of their company's financial statements.

Question

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The Sarbanes-Oxley Act requires CEOs and CFOs to certify the accuracy of financial statements, but it does not specifically order the FASB to hold them responsible. The FASB sets accounting standards, while the Act itself imposes the responsibility.

The Sarbanes-Oxley Act Orders the FASB to Hold Chief Executives