Profitability question

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  • As part of the
    Sarbanes-Oxley Act, corporate officers are no longer able to “pass the
    buck” of responsibility for ensuring adequate controls over financial
    statements and reporting activities thus ensuring the accuracy of
    financial statements. Assess the adequacy of the provisions contained
    within the Act, indicating whether or not you believe requirements will
    improve the accuracy of financial statements and reporting. Provide support
    for your rationale. 
  • Given the
    requirements contained in the Act for CEO and CFOs to certify the adequacy
    of controls and financial statement accuracy, evaluate your comfort level
    with this requirement should you become a CFO of a publically traded company.
    Provide support for your rationale.
  • Based on the company
    you researched in the e-Activity, assess the financial “red flags” that
    would have indicated that the company may be having financial difficulty
    providing suggestions related to how management should address these
    problems. Provide support for your rationale. e-Activity: Search the
    Internet for a publically traded company that recently filed for
    bankruptcy protection. Review the most recent financial information for
    the company and be prepared to discuss.
  • Evaluate whether or
    not you are confident that the models used for predicting bankruptcy would
    have been adequate to predict the invariable bankruptcy of the company you
    researched. Provide evidence supporting your position.

Please make sure that answer is in at least one paragraph form and keep answers and questions together when answering the question. Thanks