Under the Sarbanes-Oxley Act,what are the penalties for willful violation of the section requiring the retention of working papers?
A) Accountants may be fined but not imprisoned.
B) Accountants may be fined,imprisoned for up to five years,or both.
C) There are no penalties because the Sarbanes-Oxley Act does not require the retention of working papers.
D) Accountants may be fined,imprisoned for up to ten years,or both.
E) Accountants may be fined or imprisoned for up to ten years,but not both.
Correct Answer:
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