ACC 492 Week 5 Team Assignment Case study assignment Get A Grade Work Use As a Guide Only
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Wk5 Learning team
Case Study Assignment: Prepare written answers to the following:Learning Check 4:17 from the text, Modern Auditing: Assurance Services and the Integrity of Financial Reporting (8th ed.) by Boynton and Johnson.
a. Identify how the Sarbanes-Oxley Act of 2002 changed the audit environment for auditors.
Changes for auditors as a result of Sarbanes-Oxley Act of 2002:
A number of non-attest services are prohibited for auditors of public companies.
The Act gave the PCAOB authority to establish auditing standards, quality control standards, and independence standards for auditors of public companies.
b. Identify and explain new liabilities for managements of public companies created by the Sarbanes-Oxley Act of 2002.
New liabilities for managements of public companies...
