SOX2 - K elsey Brozek SOX Part 2 2/2/11 1. a) I do believe...

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SOX Part 2 2/2/11 1. a) I do believe that it will result in higher quality audits. b) In my opinion, personal relationships are of the most dangerous nature as there becomes a conflict of interest. When one begins to confuse professional relationships with personal ones too many lines become blurry. Audit partner rotation is the best option to limit that 2. Very much so, but no more than it will impact my colleagues. The need for a “cooling off period is very obvious to me. In that, it is only fair to all of us and will affect the hiring process of firms the same. 3. A. o Under §301, corporate boards must develop powerful and independent audit committees that have substantial control over the audit process. o “The audit committees must be composed entirely of independent directors, people who are not officers of the company and do not accept any consulting or advisory fees from the issuer or affiliate with the issuer or its subsidiaries in any significant way.” B. o
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This note was uploaded on 10/03/2011 for the course ACCT 309 taught by Professor Cosgrove during the Spring '11 term at UNL.

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SOX2 - K elsey Brozek SOX Part 2 2/2/11 1. a) I do believe...

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