Discuss how Section 303 of the Sarbanes-Oxley Act of 2002 can actually serve to limit an auditor’s liability. How else does the Sarbanes-Oxley Act affect the legal environment of auditors? Do you think the provisions of SOX would have prevented recent corporate scandals like Enron?
Answer to relevant QuestionsAn important component of the United States legal system is the right to a trial by a jury of one’s peers. Does a typical jury have the ability to understand complex accounting issues? Should fraud cases be decided by ...Refer to the case facts presented in number 4-32.a. What defenses are available to an auditor when charged with negligence under common law?b. Which defense is the auditor most likely to use in this case? Explain.Trace the outcome of the BDO Seidman appeal in the E.S. Bankest case and the bankruptcy court action against BDO Seidman. What have been the financial impacts to date on BDO Seidman?What is arbitration?How do your answers for 1, 2, and 3 change for a constructive fraud cause of action?
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