Question

Sarbanes OxleyAct

Analyze the following scenarios and determine which Title of theSar Banes Oxley Act is applicable and explain the correctapplication of the law.

1. Whetheror not a Chief Financial Officer or Chief Executive Officer iscriminally liable for certifying reports that containmisrepresentation in the financial statement of a publiccorporation.

2. Whetheror not a CFO or CEO is liable for using their respective positionto influence an "audit report" of a public corporation.

3. Whetheror not an outside auditing firm must report directly to the"internal auditing committee" of a public corporation.

4. Whetheror not a manager or executive is criminally liable for"whistleblower retaliation".

5. Whetheror not there is criminal liability for destruction of document withthe intent to impede criminal investigation.

6. Whetheror not a public corporation can make loans to managers andexecutives.

7. Whetheror not a person who conspires with another to engage in fraudulentactivities will receive the same punishment as those who actuallyengage in the fraudulent activity.

Discusseach as the scenario applies to the Sarbanes Oxley Act.