TCO F Which statement is true? a) In response to the Sarbanes-Oxley act, the rep
ID: 2810420 • Letter: T
Question
TCO F Which statement is true?
a) In response to the Sarbanes-Oxley act, the reporting cost were reduce and many non us firm that issued new share of stock decided to place their stock in a us stock exchange.
b) Shareholders in all countries may have power to effectively sue publickly trades frims in thei executive or directors commit financila fraud
c) In general, common law countries, such as the united state, canada and the United Kindom, allow for more legal protection to shareholders than French civil law countries, such as France and italy.
d) Global regulations require that shareholders in all countries have the same rights whereever there are stock markets.
Explanation / Answer
a.The statement is FALSE. Sarbanes-Oxley act was enacted to restore investors confidence in the markets and to prevent accounting fraud.
b.The statement is TRUE.
c.The statement is TRUE. The shareholders’ interests are better protected in countries having a common law. Here, the judges’ ruling becomes law in some instances.
d.The statement is FALSE.
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