During the course of working as an internal auditor,Samir discovered that Kavita Corporation engaged in an illegal maneuver that lowered its reported Tax Expense on its financial accounting income statement and allowed it to receive an excessively high tax refund from the IRS.Samir potentially can recover a whistleblower reward:
A) Only under the IRS Whistleblower Program
B) Only under the Dodd-Frank Whistleblower Program
C) Under both whistleblower programs
D) Under no program whatsoever due to its breach of the duty of confidentiality

Question

Quizplus · Accepted Answer

Samir can potentially recover a whistleblower reward under both the IRS Whistleblower Program and the Dodd-Frank Whistleblower Program. The IRS program rewards whistleblowers who provide information leading to the collection of taxes, penalties, and interest in excess of $2 million, while the Dodd-Frank program rewards whistleblowers who provide information about securities fraud, including violations of accounting and auditing standards. In this case, Samir's information about Kavita Corporation's illegal maneuver could potentially lead to both tax collection and disclosure of securities fraud, making him eligible for rewards under both programs. However, Samir should be careful to follow the proper procedures for reporting whistleblowing information and protecting his own confidentiality in order to maximize his chances of recovering a reward.

During the Course of Working as an Internal Auditor,Samir Discovered