SOX Title 9 Flashcards
1
Q
What are the criminal penalties for officers if they fail to certify reports?
A
Knowingly: fined 1,000,000 or prison for no more than 10 years
Willfully: fined no more than 5 mil or imprisoned for no more than 20 years
2
Q
What is the difference between knowing and willfully?
A
knew about the fraud and willfully means you took part in the fraud.
