Identify the elements of quality control.
Answer to relevant QuestionsExplain the PCAOB registration and practice inspection requirements.Discuss how the theory of proportionate liability enacted by the Private Securities Litigation Reform Act of 1995 (PSLRA) can actually protect auditors. Compare proportionate liability with jointly and severally liable.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.Rent the movie The Firm. At the conclusion, what evidence is used against the law firm and what statute applies? What does this statute have in common with legal actions that can be brought against accountants?What are the differences between a civil and criminal case?
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