Question 1

Under the Dodd-Frank Act, the SEC will pay financial rewards to:

Accepted Answer

A)  Angry employees who act out of revenge against their employer 
B)  The General Counsel who serves as a corporation's chief attorney 
C)  Outside auditors who discover securities violations during the course of performing audit duties 
D)  Internal auditors who provide information about altered or destroyed documents that otherwise would not have been discovered by the federal authorities 
A)  Angry employees who act out of revenge against their employer 
B)  The General Counsel who serves as a corporation's chief attorney 
C)  Outside auditors who discover securities violations during the course of performing audit duties 
D)  Internal auditors who provide information about altered or destroyed documents that otherwise would not have been discovered by the federal authorities

Question 2

If a person serves in a high-ranking financial reporting oversight role at a corporation, whistleblowing concerning accounting fraud is mandatory, in accordance with rules imposed by:

Accepted Answer

A)  The Sarbanes-Oxley Act 
B)  The Dodd-Frank Act and subsequent amendments 
C)  The European Commission, with regard to officials subject to its jurisdiction 
D)  The SEC, with regard to officials of companies subject to its jurisdiction 
A)  The Sarbanes-Oxley Act 
B)  The Dodd-Frank Act and subsequent amendments 
C)  The European Commission, with regard to officials subject to its jurisdiction 
D)  The SEC, with regard to officials of companies subject to its jurisdiction

Question 3

The IRS informant program, like the Dodd-Frank program, gives people who are informing a sliding scale recovery. What factors do you believe should entitle inform it to the maximum possible percentage?

Accepted Answer

There are several factors that could ent

Question 4

"Pretextual retaliation" by an employer against an employee arises when:

Accepted Answer

A)  An employee suffers lost wages due to retaliation 
B)  Disguised intent is present 
C)  Objective intent is present 
D)  An employer had decided to terminate an employee before the employee had become a whistleblower informant 
A)  An employee suffers lost wages due to retaliation 
B)  Disguised intent is present 
C)  Objective intent is present 
D)  An employer had decided to terminate an employee before the employee had become a whistleblower informant

Question 5

What factors do you believe contribute to a person developing a sense of altruism toward others?

Accepted Answer

There are several factors that can contr

Question 6

If an auditor discovers that a suspected illegal act involving financialstatement preparation occurred at a client, the auditor has a duty to:

Accepted Answer

A)  Never inform management to prevent management from potentially engaging in a cover-up 
B)  Inform management, unless the auditor suspects that management is involved 
C)  Inform the company's Audit Committee 
D)  Determine if key client financial personnel were involved in the misconduct 
A)  Never inform management to prevent management from potentially engaging in a cover-up 
B)  Inform management, unless the auditor suspects that management is involved 
C)  Inform the company's Audit Committee 
D)  Determine if key client financial personnel were involved in the misconduct

Question 7

Private citizens benefit financially from a "qui tam" lawsuit only if a lawsuit is initiated under the False Claims Act on behalf of the federal government. If individuals pursuing this type of legal action were entitled to keep 90% of the winnings, how do you believe society would change?

Accepted Answer

If individuals pursuing qui tam lawsuits

Question 8

The concept of "qui tam":

Accepted Answer

A)  Was first established in the United States by the False Claims Act and has been mimicked by various state laws 
B)  Was first established in the United States by the False Claims Act, but gained widespread application when it was enacted as a core element of the Sarbanes-Oxley Act 
C)  Is an effective deterrent in Europe against accounting fraud and, according to critics, should be adopted in the United States 
D)  Enables the SEC to recover an equal share of all investor recoveries obtained in private investor lawsuits 
A)  Was first established in the United States by the False Claims Act and has been mimicked by various state laws 
B)  Was first established in the United States by the False Claims Act, but gained widespread application when it was enacted as a core element of the Sarbanes-Oxley Act 
C)  Is an effective deterrent in Europe against accounting fraud and, according to critics, should be adopted in the United States 
D)  Enables the SEC to recover an equal share of all investor recoveries obtained in private investor lawsuits

Question 9

A "qui tam" court case can proceed to court only if:

Accepted Answer

A)  A private citizen has, or can arrange to have, adequate resources for pursuing the claim 
B)  The government grants its approval for the lawsuit to proceed 
C)  The government first refuses to pursue the case on its own initiative 
D)  The government and the private citizen reach a joint agreement concerning the sharing of winnings and costs of litigation 
A)  A private citizen has, or can arrange to have, adequate resources for pursuing the claim 
B)  The government grants its approval for the lawsuit to proceed 
C)  The government first refuses to pursue the case on its own initiative 
D)  The government and the private citizen reach a joint agreement concerning the sharing of winnings and costs of litigation

Question 10

Under the Dodd-Frank Act, a whistleblower who reports original information that materially assists the SEC in recovering ill-gotten gains relating to securities violations is entitled to:

Accepted Answer

A)  A minimum submission fee, plus a percentage of the SEC's recovery 
B)  A percentage of the SEC's recovery 
C)  A percentage of the SEC's recovery only if the amount recovered involved fraud 
D)  A percentage of the SEC's recovery only if the amount recovered exceeds a specified threshold 
A)  A minimum submission fee, plus a percentage of the SEC's recovery 
B)  A percentage of the SEC's recovery 
C)  A percentage of the SEC's recovery only if the amount recovered involved fraud 
D)  A percentage of the SEC's recovery only if the amount recovered exceeds a specified threshold

Under the Dodd-Frank Act, the SEC will pay financial rewards to:

If a person serves in a high-ranking financial reporting oversight role at a corporation, whistleblowing concerning accounting fraud is mandatory, in accordance with rules imposed by:

The IRS informant program, like the Dodd-Frank program, gives people who are informing a sliding scale recovery. What factors do you believe should entitle inform it to the maximum possible percentage?

"Pretextual retaliation" by an employer against an employee arises when:

What factors do you believe contribute to a person developing a sense of altruism toward others?

If an auditor discovers that a suspected illegal act involving financialstatement preparation occurred at a client, the auditor has a duty to:

Private citizens benefit financially from a "qui tam" lawsuit only if a lawsuit is initiated under the False Claims Act on behalf of the federal government. If individuals pursuing this type of legal action were entitled to keep 90% of the winnings, how do you believe society would change?

The concept of "qui tam":

A "qui tam" court case can proceed to court only if:

Under the Dodd-Frank Act, a whistleblower who reports original information that materially assists the SEC in recovering ill-gotten gains relating to securities violations is entitled to:

Introduction to Ethics

Ethical Principles and Reasoning

The Core Philosophies

Virtue, Justice, and Social Responsibility

Why We Cheat

Greed, Corruption, and Collusion

Fraud and Earnings Management

Discreditable Acts: Discrimination, Deceit, and Disclosure

Confidentiality

Independence and Moral Seduction

Conflicts of Interest

Duties of Public-Company Auditors: the Sarbanesoxley Act

Duties of Tax Professionals

Duties of Fiduciaries: Financial Planners, Trustees, and Executors

Duties in the Accounting Workplace Online Only

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Exam 12: Duties As a Whistleblower

Under the Dodd-Frank Act, the SEC will pay financial rewards to:

If a person serves in a high-ranking financial reporting oversight role at a corporation, whistleblowing concerning accounting fraud is mandatory, in accordance with rules imposed by:

The IRS informant program, like the Dodd-Frank program, gives people who are informing a sliding scale recovery. What factors do you believe should entitle inform it to the maximum possible percentage?

"Pretextual retaliation" by an employer against an employee arises when:

What factors do you believe contribute to a person developing a sense of altruism toward others?

If an auditor discovers that a suspected illegal act involving financialstatement preparation occurred at a client, the auditor has a duty to:

Private citizens benefit financially from a "qui tam" lawsuit only if a lawsuit is initiated under the False Claims Act on behalf of the federal government. If individuals pursuing this type of legal action were entitled to keep 90% of the winnings, how do you believe society would change?

The concept of "qui tam":

A "qui tam" court case can proceed to court only if:

Under the Dodd-Frank Act, a whistleblower who reports original information that materially assists the SEC in recovering ill-gotten gains relating to securities violations is entitled to:

Introduction to Ethics

Ethical Principles and Reasoning

The Core Philosophies

Virtue, Justice, and Social Responsibility

Why We Cheat

Greed, Corruption, and Collusion

Fraud and Earnings Management

Discreditable Acts: Discrimination, Deceit, and Disclosure

Confidentiality

Independence and Moral Seduction

Conflicts of Interest

Duties of Public-Company Auditors: the Sarbanesoxley Act

Duties of Tax Professionals

Duties of Fiduciaries: Financial Planners, Trustees, and Executors

Duties in the Accounting Workplace Online Only

Filters