Flashcards in REG 25 Deck (15):
If the preparer takes an unreasonable position, what is the percentage that applies to "understatement of liability"
None, there is no %, an unreasonable position can get the preparer fined
Termination without a hearing from aicpa
conviction of a felony
revocation of cpa liscence
will failure to file individual tax return
Annual inspection PCAOb how manyaudits?
more than 100
Question says: What form by "nonreporting and unseasoned issuers"
Implying that it's one thing.
It's not -
nonreporting issuers: need not file reports under 1934
unseasoned: file reports for at least 3 consecutive years, bur not more stringent requirements
A well known seasoned issuer is defined how. What form do they file?
Has three criteria actually
- worldwide market cap of over 700 million
- issued at least 1 billion of debt or preferred stock in the past 3 years
Regulation S-X what does it do and what is it one of
Governs the reporting of financial statements, including notes and schedules
SEC's 5 major types of accounting related pronouncements
What must MD and A disclose?
Results of Operations
Effects of Inflation and Changing Prices
Are forward looking information and forecasts required to be discussed in an MD and A?
REgulation D, Rule 505
What is the dollar limitation for this section?
What does it have to do with?
What is the notification requirement that after must company notify SEC about sale via what form?
Unregistered stock offerings
File form D within 15 days of first sale
Only accredited and up to 35 non=accredited
No advertising if non-accredited and must provide non-accredited some information`1`
SEC registration requirements for non publicly traded. companies.
Assets (not revenues) in excess of 10 million
What does the Fair Labor Standards Act Cover - 4 Things
MEOW said the Child
In a non-contributory pension plan, who's not contributing?
Which laws prohibits sex discrimination?
Equal pay act
Title 7 of the Civil Rights Act
Fair Credit Billing Act
HOw long after a customer's inquiry must the correction be made?
How long after receiving bill does customer have for raising objection?
Forfeiture for failure to comply by creditor
90 days to correct after inquiry
60 days customer must raise objection
Charge up to $50