Exam 12: Financial Reporting and the Securities and Exchange Commission

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Which one of the following requires the audit committee to be responsible for the appointment and compensation of the external auditor?

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Which statement is false regarding the registration of public accounting firms with the PCAOB?

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What information needs to be included in Form 10-Q?

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What is a proxy? Briefly explain the importance of a proxy solicitation and a proxy statement.

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What is Form 10-K?

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Which statement is false regarding the Public Company Accounting Oversight Board (PCAOB)?

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How has the Sarbanes-Oxley Act of 2002 changed the role of the audit committee?

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Audited financial statements in an annual report of an issuer that is subject to SEC regulation must include:

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What is a sophisticated investor?

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Which information is not contained in the prospectus of the registration statement?

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What is shelf registration?

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Regulation S-K:

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What is a letter of comments?

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Which one of the following regulates the initial offering of securities by a company or underwriter?

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What are the responsibilities of the SEC's Division of Corporation Finance?

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Describe how the Public Company Accounting Oversight Board interacts with the Auditing Standards Board to promulgate audit and attestation standards.

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The SEC's role in the initial registration of securities to be publicly issued is:

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What is included in Part II of a securities registration statement?

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The SEC has usually restricted its role in establishing accounting principles to:

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Which of the following forms is used in connection with registration of securities by certain real estate companies?

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