Corporate Rights, Responsibilities, and Authority Flashcards Preview

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Flashcards in Corporate Rights, Responsibilities, and Authority Deck (3):
1

Dodd Frank mandatory awards

If sanctions imposed are more than $1,000,000, award is between 10% and 30% of sanction imposed

2

SOX provision that makes it a crime to retaliate against a whistleblower relates to:

Whistleblowing regarding commission of ANY federal offense.

3

What is an audit committee financial expert (SOX 2002)

Financial expert who has acquired through education and experience:
1. An understanding of GAAP and FS;
2. Experience in preparation of FS and application of such principles in connection w accounting estimates, accruals, and reserves;
3. Experience w internal controls;
4. Understanding how audit committee functions