b) Search through the law and find the specific sub-section that requires that a company’s “annual reports” be “certified…by independent public accountants.” What is this sub-section? (e.g., Section X [y] [z])

c) Section 10A (a) of the law prescribes that an audit of a public company’s financial statements must include – in accordance with generally accepted auditing standards – procedures that are designed to do three things (in addition to certifying the accuracy of the financial statements). What are those three things?

Q2

a) In the Appendix to the ASB’s Operating Policies, read the section describing the creation of the Auditing Standards Board. According to this document, what are the four principal objectives of auditing standards and procedures issued by the ASB?

b) Visit the website of the Auditing Standards Board. Find the page describing the biographies of the current Board members. In the space below, describe the composition of the ASB (i.e., How many total members are on the Board? What organizations or groups do the members represent?)

c) Who is the current academic member on the Auditing Standards Board?

Answer rating: 100% (QA)

Question 1 Requirement A Section 4 of SEC Act of 1936 you can find the section in which SEC is created The commission is composed of 5 commissioners to be appointed by the President by and with the ad... View the full answer