SOX: Title VIII - Corporate and Criminal Fraud Accountability

Question 1

Statue of limitation for securities fraud

Answer 1

No later than the Earlier of

1) Two years after discovery of facts or
2) Five Years after Violation

Question 2

Whistle Blower Protection

Answer 2

employee who provides evidence of fraud may not be

1) discharged
2) demoted
3) suspended
4) threatened
5) harassed

Question 3

Auditors of issuers

Answer 3

should retain all audit/review workpapers for 7 years from end of the fiscal period of that audit/review.

failure results in fine and/or prison up to 10 years

Question 4

anyone who alters, destroys, conceals, or makes false entry in any record with intent to impede, obstruct or influence an investigation

Answer 4

will be fined/imprisoned not more than 20 years.

Question 5

anyone who knowingly executes or attempts to execute securities fraud

Answer 5

will be fined/imprisoned not more than 25 years