Multiple Choice
Under the Sarbanes-Oxley Act, which of the following is not true?
A) It is a felony to willfully fail to maintain proper records of audits.
B) Audit and paperwork associated with the audit must be kept for at least 5 years.
C) Punishment can be up to 10 years imprisonment if audit paperwork is not kept for 5 years.
D) The punishment for securities fraud has been increased to 25 years.
E) If found in violation of securities fraud a person can be imprisoned for life.
Correct Answer:
Verified
Correct Answer:
Verified
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