{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Sarbanes-Oxley_Act_of_2002

Sarbanes-Oxley_Act_of_2002 - ,AuditorReform,and...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Summary of the Investor Protection, Auditor Reform, and  Transparency Act of 2002 (Sarbanes-Oxley Act) Public Company Accountability Oversight Board  (PCAOB) Establishes a five-member oversight board with investigative and disciplinary powers over auditors of publicly held companies; board is majority independent (two of five members may be  CPAs), funded by publicly held companies, must adopt or establish auditing standards and is  overseen by SEC Board must perform annual inspections of accounting firms that audit 100 or more public companies and at least tri-annual inspections of other public company auditors. Non-Audit Services Prohibited Auditors of publicly held companies are prohibited from providing the following services to an audit client: Bookkeeping Financial systems Appraisal or valuation Actuarial Internal audit Management or HR functions Broker or dealer, investment adviser or investment banking Legal services or expert services (litigation support) Any other service designated by the Board
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern