An auditor, performing an "attest" audit of a public company, informs the audit committee of the Board of Directors that an illegal act is likely to have occurred. After a period of time, during which remedial actions are not taken, the auditor issues a report of conclusions to the Board. What steps is the Board then required to take quickly, under the Securities Exchange Act of 1934? I. Contact local law enforcement II. Notify the SEC in writing III. Send the auditor a copy of the written notification

An auditor, performing an "attest" audit of a public company, informs the audit committee of the Board of Directors that an illegal act is likely to have occurred. After a period of time, during which remedial actions are not taken, the auditor issues a report of conclusions to the Board. What steps is the Board then required to take quickly, under the Securities Exchange Act of 1934? I. Contact local law enforcement II. Notify the SEC in writing III. Send the auditor a copy of the written notification

An auditor, performing an "attest" audit of a public company, informs the audit committee of the Board of Directors that an illegal act is likely to have occurred. After a period of time, during which remedial actions are not taken, the auditor issues a report of conclusions to the Board. What steps is the Board then required to take quickly, under the Securities Exchange Act of 1934?
I. Contact local law enforcement
II. Notify the SEC in writing
III. Send the auditor a copy of the written notification 






A) I and II only
B) I and III only
C) II and III only
D) I, II and III







Answer: C