Represent the difference between what is right and wrong

Ethics

Attempting to influence a person of authority by offering something of value is considered a

Bribe

The Financial Accounting Standards Board oversees

GAAP

Ethical obligations to society and the environment

Social responsibility

The Securities and Exchange Commission is the ____ authority requiring publicly traded companies to submit accurate financials.

ultimate

Which organization represents the main authority to promote investor confidence by ensuring that publicly traded companies provide accurate financial information?

SEC

Buying and selling securities also means to

trade

State and local governments are also considered

municipalities

Municipalities are allowed to sell _____ to fund projects.

bonds

The shareholder’s equity and retained earnings statement include information about a company’s

stock

_____ is the trading of securities based on non-public information. This is illegal.

Insider trading

_____ is a plan to reorganize debt by eliminating or reducing the amount owed to creditors and shareholders.

Bankruptcy

Auditing firms have a duty to independently review financials to prevent and minimize

fraud

Which entity has a duty to independently review financials to prevent and minimize fraud?

auditing firms

Refers to interfering with an investigation

Obstruction of justice

The SEC can bring _____ charges against the entities who commit fraud.

criminal

The Sarbanes-Oxley Act of 2002 provided additional laws and regulations for ________ traded U.S. companies

publicly

The Sarbanes-Oxley Act of 2002 provided

additional laws and regulations for publicly traded U.S. companies

The balance sheet for governmental agencies _____ corporate balance sheets.

is similar to

IFRS is _____ across the world.

widely used