SOX: Title 8

Question 1

1. What is the consequence for destroying or altering records?

Answer 1

Fined, imprisoned no ore than 20 years

Question 2

What is the consequence for destroying audit records?

Answer 2

fined, imprisoned no more than 10 years

Question 3

How long must you maintain the audit records to not receive a criminal charge?

Answer 3

5

Question 4

Is there a different term you have to maintain the audit papers under the civil penalties we discussed Tuesday?

Answer 4

7 years

Question 5

What is the Statute of Limitations for securities fraud?

Answer 5

2 years after fraud is discovered or

5 years from the violation

Question 6

Is there a whistleblower provision in this act? Why do you think it is important? What does it provide?

Answer 6

yes. mini