Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 1 - Introduction to Financial Statements - Self-Test Questions: 4

Answer

(d) Tax rates on corporations increased

Work Step by Step

Increased tax rates on corporations did not result from the Sarbanes-Oxley Act. However, as a result of the act, top management are required to certify the accuracy of financial information, the penalties for fraudulent activity increased, and the independence of auditors also increased.
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