4) Describe the development of Auditing under the Self-Regulatory period of 1933 to 2001. Be sure to mention the SEC, peer review and other developments including the role Congress and the SEC played. [Hint: Use Public Oversight Board-Final Annual Report-2001] 25) What are the Auditor’s Liabilities under Statutory Law (SEC Acts and Other Acts of Congress). Securities Act 1933: Securities & Exchange Act 1934: Foreign Corrupt Practices Act (1977): Private Securities Litigation Reform Act (1995/1998): Sarbanes-Oxley Act (2002): 3) The reason why Auditing evolved is based on Agency Theory. Please describe Agency Theory (using your own words). [Hint: Use the documents provided on the BB-Kim Ittonen and Institute of Chartered Accountants]

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Describe the development of Auditing under the SelfRegulatory period of 1933 to 2001 Following the stock market crash of 1929 and the ensuing Great Depression Congress passed the two acts of federal l... View the full answer