ZuoTi.Pro
Question
Question 4 is already complete
1. The Act provided for an establishment of the Public Company Accounting Oversight Board. Please describe the makeup of this committee (names and what they did prior to serving on the board). 2. The bill contains a provision for partner rotation. Please explain the proposed rules. Section 404 of the Act speaks to work required by accountants. Please explain. 3. 4. There are nine (9) specific services that are outside the scope of practice of auditors; i. e. Prohibited Activities. List five (5) of the nine 1) Bookkeeping or other services related to the accounting records or financial statements of the audit client 2) Financial information systems design and implementation 3) Appraisal or valuation services, fairness opinions, or contribution-in-kind re 4) Actuarial services 5) Internal audit outsourcing services 5. Section 306 of SOX dealt with the Blackout Trading Restriction. Briefly describe the Blackout rule for Enron, before and after sox.
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Section -olt Ths the eff ectiveness oRits ↑nternal Controlg over financial Refor ting CFR) hot Ca)- and ta have an indePendant audi tor attest ts and report on mana gem ents ass essime Secion reqoires mana gement to assess This Section reoires management to Cendud an annual e va luation ol th oPeration effectiveness its т.cFR ceith docomentation op bolth tte Controls and tho man da ted testing there ot, and ts xefort the teults public in is annval Ste Pert on Form lo -K geciton 306 (a) algot e uires an issue rto timely noti4 its directors ard ez e cotive officerS andte CommisSion of a blackoot Perind and. that Could affect then Section 3a) tole) effect Tan 26, 2003, l8odayi after tie dat d tnactment He ActİJameSG-Kaiser) і8 corrently afattnen Gb bal Assorance methodo loy & Transfor mation Leader at Pricewaterhouse Coo ρerS(Pac), te hat been corthPc or 38 geat and ha held nomerous leadership oles sitho te firm, Deartedoi Scon retire a Senio vice President and CorPorate centro fler of Etelon Corforation He Previouslyas an Patt-ProviSion Paot ner Rotation Ihe new roles also eguire Partner rotation audit Partner at Delotte &Touche for ttaudit Partners which s a new defihed term, Auditfartner,other than the lead and concurring Partners, most rotate off an audi t enga ge ment after seven ye and aste Subject to a tuwoya ime- out PeriodPo i AnSwer The Sa ba nes- oxley kdt of esbisd ct of 2o02 es the PCA0B t overšee the audits & Poblic ComPanie s an d broKer- dealers in order to Protect the Interesk o in vestors and for the the Poblic interest in the Prehration oL1nformal accurate, and inde Pen dent Audit rePorts Pc Aoß members and they Prior designations ODS william D. Dubnke丐) chairman is currently the stall directer and Geneval counsel t the Us. senate committee onRoles and Ad minisbra tio He Previusly Served as stafl Director and General counsel to the OS,Sera commi tee on Banking, Ho oSing n ur ba Afairs and the commitee on Appro Priati ons ··· J. Robert Brown is corrently a Protessr lawak te Universify ol Denver. Prior to th he Served on the Staff o fhe SEC and coorked in Private Pracice Kathleen M. Hamm is currently te Go ba Leaderot Securi ties and Fintech Solutions senior strategic Ad vi on Cyber Solo tions at-promontory Financia GrouPi Prior to she worked at the U:S. De fastment ol Treasur ractice and spio4

0 0
Add a comment
Know the answer?
Add Answer to:
Question 4 is already complete 1. The Act provided for an establishment of the Public Company...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Passage of the Sarbanes-Oxley Act led to the establishment of the: A Public Company Accounting Oversight...

    Passage of the Sarbanes-Oxley Act led to the establishment of the: A Public Company Accounting Oversight Board. B Auditing Standards Board. C Public Accountancy Review Board. D Securities and Exchange Commission. Ordinarily, a public company audit report must be addressed to: Board of Directors Shareholders A. Yes Yes B. Yes No C. No Yes D. No No A Option A B Option B C Option C D Option D

  • Question 1 of 1010.0 Points PCAOB stands for: A. Public Company Accounting Options Board B. Private...

    Question 1 of 1010.0 Points PCAOB stands for: A. Public Company Accounting Options Board B. Private Company Accounting Oversight Board C. Private Company Accounting Options Board D. Public Company Accounting Oversight Board Question 2 of 1010.0 Points Which Section in Sarbanes-Oxley addresses internal control structure? A. 404 B. 504 C. 302 D. 405 Question 3 of 1010.0 Points A public company’s disclosure internal control disclosure requirements in its annual report according to Sarbanes-Oxley Section 404 include which of the following:...

  • Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming...

    Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant “E,” slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm laid off 4,000...

  • CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a...

    CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...

  • KID CASTLE EDUCATIONAL CORPORATION AND BROCK, SCHECHTER & POLAKOFF LLP, PCAOB 10 3, 4, 5, 7,...

    KID CASTLE EDUCATIONAL CORPORATION AND BROCK, SCHECHTER & POLAKOFF LLP, PCAOB 10 3, 4, 5, 7, 8) PROFESSIONAL SKEPTICISM 7-58 General Background. On May 22, 2012, the audit firm of Brock Schechter & Polakoff LLP (hereafter BSP) was censured and fined 820,000 by the PCAOB in relation to its audits of public compa nies located in Taiwan and China. These public companies were listed on U.S. stock exchanges. James Waggoner, BSP's director of accounting and auditing, was the BSP auditor...

  • Hi, Kindly assist with my project management assignment below using the attached case study Question 1 Update the project charter for the remainder of the project in response to Adams’ memo (lines 241...

    Hi, Kindly assist with my project management assignment below using the attached case study Question 1 Update the project charter for the remainder of the project in response to Adams’ memo (lines 241 through 246). Question 2 Prepare a plan for the remainder of the project in response to Adams’ memo (lines 241 through 246). Your answers to the above will be assessed in terms of the level of communication displayed, the insights and inferences drawn, and your ability to...

  • How can we assess whether a project is a success or a failure? This case presents...

    How can we assess whether a project is a success or a failure? This case presents two phases of a large business transformation project involving the implementation of an ERP system with the aim of creating an integrated company. The case illustrates some of the challenges associated with integration. It also presents the obstacles facing companies that undertake projects involving large information technology projects. Bombardier and Its Environment Joseph-Armand Bombardier was 15 years old when he built his first snowmobile...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT