Question #1 (5 points):
You are the development manager for a developer of commercial distribution centers. While surveying a new development site in Butler County near Gregory Creek (which is considered a federal navigable waterway), you step into a swampy field and get your boots muddied. You also find ten rusted barrels of an unknown liquid substance in the corner of the site – two of which appear to have a leak. While accessing the contents of the barrels, you notice a small reptile that you’ve never seen before wading in a puddle.
1. Based on these facts, what specific federal environmental laws will you need to investigate in order to develop the site?
2. For each statute, give your reason why. Point back to the relevant facts that would bring that statute into consideration.
Question #2 (5 points):
1. When must an environmental impact statement be prepared?
2. What are the specific items that it must discuss?
3. In your view, why these items would enable the EPA and other agencies to determine whether the project should move forward?
Question #3 (5 points):
Under Sarbanes-Oxley, list the three events that an auditor would need to report to the audit committee of the client’s board of directors. Why do you think it is important for each of these three events to be reported?
List the three actions involved if an auditor suspects a client has committed an illegal act. Why do you think that each of these actions are considered necessary?
Note: this isn’t a trick question. The answer to the two parts of the question are in different sections of the text and lecture.
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