Bob martino is sanctioned by his state board of accountancy for his association with false and misleading financial statements of his employer, jones consulting, llc, a private company. which situation is the least likely result of the state board's action? a. the state board could suspend or revoke bob's cpa license. b. bob could lose his membership in the aicpa or a state cpa society. c. bob could become subject to significant legal liabilities. d. the securities and exchange commission could fine bob.

The Securities and Exchange Commission could fine Bob.

Option D.

Explanation:

The U.S. Securities and Exchange Commission (SEC) have been established as a self-governing federal government entity that protects investors, maintains the securities markets running equally and normally and promotes capital formation. The first federal control board on securities markets were set up by Congress in 1934.

The SEC will only initiate civil proceedings against violations of law, but deals on criminal proceedings with the Justice Department. The SEC recovered approximately Four billion dollars in fines and other damage following its investigation after the Great depression.

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