Question: 1/ Discuss the difference between acting knowingly and acting knowingly and willfully. 2/ Why would a company that is not required to file with the

1/ Discuss the difference between acting "knowingly" and acting "knowingly and willfully."

2/ Why would a company that is not required to file with the SEC want to comply with the provisions of Sarbanes-Oxley? Why would the company not want to comply with SOX? Specifically address the type of company that is required to comply with the act. Discuss the various costs involved in SOX compliance. Does public perception play a role in your answer? What would happen if a company that is not required to comply is taken over by a company that is required to comply? How would this affect your answer?

3/ Why does Sarbanes-Oxley require one member of the audit committee of a publicly traded company to be an expert in finance? Discuss the composition of the audit com- mittee. Would the same rules apply to a company that specializes in finance? Are there any similarities and/or differences between the composition of an audit committee and that of the PCAOB

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