Posted by Instructor Chapter 37 Sarbanes Oxley Act SOX Under Sarbanes-Oxley, who cannot be a member of an audit committee of a publicly traded company and why? An officer, A consultant to the company, Outside lawyer for the company, All of the above cannot be a member of the company's audit committee Please respond in 150 words Posted by Instructor CORPORATE GOVERNANCE:  Under the Sarbanes-Oxley Act, which of the following is false and why:  a. Sarbanes-Oxley requires all covered companies to have a code of ethics for financial officers.  b. Destruction of documents related to the financial reports of a company carries a 20-year penalty.  c. Attorneys who represent publicly traded companies need not report any financial fraud to boards because of the attorney-client privilege.  d. The Act prohibits public companies from making personal loans to their directors or executive officers. Please respond in 150 words Posted by Instructor K-MART The directors of Kmart, Inc. voted several years ago to approve a new marketing plan that involved endorsements by Martha Stewart of Kmart home products such as linens, paint and decorations. Marketing studies have shown that Martha Stewart was not the right match for endorsements for Kmart's customer base. Kmart is now in Chapter 11 bankruptcy. Its shareholders believe the Martha Stewart decision was the cause of the company's demise.  Do the shareholder's have a cause of action against the board of directors, or does the Business Judgment Rule apply? Please respond in 150 words These are posted by my classmates, just need responses to them Internal Problems at the FDA posted by LATASHA Nov 29, 2013, 7:35 PM The FDA regulates what impurities are allowed in foods and what processes drug companies must complete before new drugs can be sold. The staff at the FDA has decreased 14% in the past 14 years. When the agency is understaffed, then the agency can't perform its job which puts the American citizens at risk. The FDA has lost 600 inspectors in the past 4 years, which also makes the agency unable to protect the country's food supply. The loss of inspectors also decreases the number of inspections performed. Another problem at the FDA is that some inspectors had to write handwritten, urgent reports that could be potentially lost in files and never found. Please respond in 150 words What is Wrong with the FDA? posted byMICHAEL Nov 28, 2013, 1:24 PM I believe that the Food and Drug Administration has an important task in ensuring that the American people are getting safe foods and products from companies and corporations. After watching the video, I am surprised to see that an agency with the responsibility to make sure that people are safe, would be severely understaffed like this. Our country is going through an economic crisis for the past couple of years. Out of all the unnecessary spending that our government is responsible for, I cannot believe that they would cut funding for the .

1. Posted by Instructor
Chapter 37 Sarbanes Oxley Act
SOX
Under Sarbanes-Oxley, who cannot be a member of an audit
committee of a publicly traded company and why?
An officer,
A consultant to the company,
Outside lawyer for the company,
All of the above cannot be a member of the company's audit
committee
Please respond in 150 words
Posted by Instructor
CORPORATE GOVERNANCE:
Under the Sarbanes-Oxley Act, which of the following is false
and why:
a. Sarbanes-Oxley requires all covered companies to have a
code of ethics for financial officers.
b. Destruction of documents related to the financial reports of a
company carries a 20-year penalty.
c. Attorneys who represent publicly traded companies need not
report any financial fraud to boards because of the attorney-
client privilege.
d. The Act prohibits public companies from making personal
loans to their directors or executive officers.

2. Please respond in 150 words
Posted by Instructor
K-MART
The directors of Kmart, Inc. voted several years ago to approve
a new marketing plan that involved endorsements by Martha
Stewart of Kmart home products such as linens, paint and
decorations. Marketing studies have shown that Martha Stewart
was not the right match for endorsements for Kmart's customer
base. Kmart is now in Chapter 11 bankruptcy. Its shareholders
believe the Martha Stewart decision was the cause of the
company's demise. Do the shareholder's have a cause of action
against the board of directors, or does the Business Judgment
Rule apply?
Please respond in 150 words
These are posted by my classmates, just need responses to them
Internal Problems at the FDA
posted by LATASHA
Nov 29, 2013, 7:35 PM
The FDA regulates what impurities are allowed in foods and
what processes drug companies must complete before new drugs
can be sold. The staff at the FDA has decreased 14% in the past
14 years. When the agency is understaffed, then the agency
can't perform its job which puts the American citizens at risk.
The FDA has lost 600 inspectors in the past 4 years, which also
makes the agency unable to protect the country's food supply.
The loss of inspectors also decreases the number of inspections
performed. Another problem at the FDA is that some inspectors
had to write handwritten, urgent reports that could be
potentially lost in files and never found.

3. Please respond in 150 words
What is Wrong with the FDA?
posted byMICHAEL
Nov 28, 2013, 1:24 PM
I believe that the Food and Drug Administration has an
important task in ensuring that the American people are getting
safe foods and products from companies and corporations. After
watching the video, I am surprised to see that an agency with
the responsibility to make sure that people are safe, would be
severely understaffed like this. Our country is going through an
economic crisis for the past couple of years. Out of all the
unnecessary spending that our government is responsible for, I
cannot believe that they would cut funding for the FDA.
There should be no reason why the food and water supply
should be dangerous to the American people and there is nobody
that is stepping in to say that this is wrong. The thing that really
bothers me about learning about how things SHOULD be in this
country is that in reality, our government is cutting budgets for
some important things that America needs to pay attention to. I
saw something on the news a few months ago during the whole
government shutdown that there were many recalls and food
services that were not occurring.
With an agency that is supposed to be in charge of the safety of
Americans, there should be no reason at all why FDA inspectors
should be writing reports by hand. In my opinion, this should be
addressed and held as a top priority for the U.S. Government to
look into and address.
Please respond in 150 words

4. Chapter 43 speaks about administrative law. According to
Cheesman (2013) "administrative law
posted Briana
Nov 26, 2013, 10:17 AM
Chapter 43 speaks about administrative law. According to
Cheesman (2013) "administrative law is the law that
governments enact to regulate industries, businesses, and
professionals" (p. 727). Administrative law involves laws and
legal principles governing the administration and regulation of
government agencies for both Federal and state. Such agencies
are given power by Congress to act as agents for the executive.
An example of a few would be some of the following:
· Social Security Administration
· Employment/Labor Boards
· Unemployment Insurance Agencies
· Workers Compensation Boards
· Licensing Agencies
· Zoning Boards
Please respond in 150 words
Sarbanes-Oxley Act of 2002
posted bALEXANDRIA
Nov 27, 2013, 9:45 AM
Addressing the systemic weakness of the corporate governance

5. practices prevailing in the pre-Sarbanes-Oxley corporate
environment requires more than correcting the most visible
manifestations of the problem. Weak governance practices are
the combined result of several offenders and lax controls over
the performance of both management and the board of directors.
Laws and regulations have never been sufficient to guarantee
society's welfare or, in this case, improvement in corporate
governance standards. Accountability is the key. The owners of
America's corporations--the stockholders--must hold
accountable nonperforming managers, directors, auditors, and
market participants, as the performance of these groups directly
impacts shareholder value. The corporate governance process
must be reengineered into one that guarantees performance
excellence by management and the board of directors when
performing their agency duties as trustees of shareholder
confidence.
In Smith & Robertson'sBusiness Law, the authors define the
relationship between agent and principal as follows: "an agent
as a fiduciary (a person in a position of trust and confidence)
owes to his principal the duties of obedience, diligence and
loyalty; the duty to inform; and the duty to provide accounting."
The definition then cites various examples of the agent-
principal relationship: "A fiduciary duty arises out of a
relationship of trust and confidence. A duty imposed by law, an
agent owes it to the principal and an employee to his employer.
A trustee also owes it to a beneficiary of a trust, an officer or
director of a corporation to the corporation and its shareholders,
and a lawyer to his clients.
Please respond in 150 words
**This is an example of a response but you can respond to this
if you want**Re: Sarbanes-Oxley Act of 2002

6. posted byANTHONY
Nov 27, 2013, 10:01 PM
Hello Alexandria, great post. I think that Sarbane-Oxley has
done a great job with putting companies on the right track and
with situations like Enron something had to happen. Although I
have confidence in the market system I am not confident in the
people ensuring that companies are complient with the new
Sarbanes-Oxley acts. For example I have yet to see an internal
auditor come in and check the financials for any adjustment we
are doing. As I stated in my first post that CFOs or someone
from the executive team need to sign the FMT1 and I have
yet to see an analyst check to see if the financials was signed.
Toxic Substance Copntrol Act
posted by THOMAS
Nov 29, 2013, 8:57 AM
In 1976, Congress enacted the Toxic Substances Control Act13
and gave the EPA authority to administer the act. The act
requires the EPA to identify
toxic air pollutants that present a substantial risk of injury to
human health or the environment. The act requires the EPA to
establish standards for toxic chemicals and requires stationary
sources to install equipment and technology to control
emissions of toxic substances. EPA standards for toxic
substances are set without regard to economic or technological
feasibility. The act requires manufacturers and processors to
test new chemicals to determine their effects on human health
and the environment and to report the results to the EPA before
the chemicals are marketed. The EPA may limit or prohibit the
manufacture and sale of toxic substances, and it can remove
them from commerce if it finds that they pose an imminent
hazard or an unreasonable risk of injury to human health or

7. theenvironment. The EPA also requires special labeling of toxic
substances (cheeseman 2013).
Cheeseman, H.R. (2013). Business law: Legal environment,
online commerce, business ethics, and international issues (8th
ed.). Upper Saddle River, NJ: Prentice Hall.
Please respond in 150 words
**This is an example of a response but you can respond to this
if you want**Re: Toxic Substance Copntrol Act
posted byALLYSON
Nov 29, 2013, 4:11 PM
Thank goodness for the EPA, and the Toxic Substances Control
Act. In the health care facilities I have worked in we are
required to bag and box hazardous waste in these huge red bags
and they came every month to collect. There are some nasty and
very biohazardous materials that come out of health care
facilities. Especially hospitals and long-term care places. One
of my jobs currently is working at the office at a landfill.
People try to bring in hazardous materials all of the time such
as liquid paint and gas. Most people do not realize that the EPA
has to put all kinds of regulations into place to try to keep our
ground water from getting polluted. If people were allowed to
dump their hazardous waste in the landfill it would all trickle
out into our town ground water. Poison the fish and Lord knows
what else. We have a hazardous waste collection day once a
year to try to help folks get rid of some of those things safely.
However I think they should hold one at least twice a year. No
one else wants to hold on to that junk either. Even with the
hazardous waste collection and EPA regulations, we still have
to pump and safely dispose of the leachate water that comes
from the landfill. Environmental safety inspectors come
regularly to test our ground and leachate water.
Less

8. Fall - 2013
ITT 240
· Grading criteria:
· Source code: 100
· Documentation: 50
· Deliverables are:
· A working system
· A compete document that describes the components,
limitations, and assumptions
Part 1:
(Anagrams) Write a method that checks whether two words are
anagrams. Two words are anagrams if they contain the same
letters in any order. For example, "silent" and "listen" are
anagrams. The header of the method is as follows:
public static boolean isAnagram(String s1, String s2)
Write a main method to invoke isAnagram("silent", "listen"),
isAnagram("garden", "ranged"), and isAnagram("split", "lisp").
Part 2:
(Sorting characters in a string) Write a method that returns a
sorted string using the following header:
public static String sort(String s)
For example, sort("acb") returns abc.
Part 3:
(Analyzing input) Write a program that reads ten numbers,
computes their average, and finds out how many numbers are
above the average.

9. Part 4:
(Reversing the numbers entered) Write a program that reads ten
integers and displays them in the reverse of the order in which
they were read.
Part 5:
(Printing distinct numbers) Write a program that reads in ten
numbers and displays distinct numbers (i.e., if a number appears
multiple times, it is displayed only once). Hint: Read a number
and store it to an array if it is new. If the number is already in
the array, discard it. After the input, the array contains the
distinct numbers.
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Dr. Naser El-Bathy
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