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11. The Sarbanes-Oxley Act eliminated the need for internal auditors. 12. 

Question : 11. The Sarbanes-Oxley Act eliminated the need for internal auditors. 12.  : 1410637

 

11. The Sarbanes-Oxley Act eliminated the need for internal auditors.

 

12.  An unqualified auditor's report states that the financial statements present fairly the financial position, results of operation, and the cash flows of the entity.

13.  The Sarbanes-Oxley Act of 2002 requires all members of management as well as directors to certify the accuracy of the financial statements.

 

14.  Despite the enactment of the Sarbanes-Oxley Act of 2002, corruption and unethical behavior continued in the 2000s.

 

15. The management discussion and analysis is of potential interest to the analyst because it contains information that cannot be found in the financial data.

 

16. The management discussion and analysis should contain a discussion of the commitments for capital expenditures, the purpose of such commitments, and expected sources of funding.

 

17.  The shareholders' letter from the CEO of a firm offers factual information needed to analyze the financial statements.

 

18. The proxy statement offers information about such items as corporate governance, audit-related matters, directors and executive compensation, and related party transactions.

 

19.  Publicity in the media can impact a firm’s financial performance.

 

20. Conglomerates operating in diversified lines of business are required to create separate annual reports for each line of business.

 

 

 

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