This project requires the student to summarize Sections 3522 Tax Transactions; 3523 Tax Services for Persons in Financial Reporting Oversight Roles; and 3524 Audit Committee Pre-Approval of Certain Tax Services. Tax services are areas in which the independence of a registered public accounting firm may be more a question of "independence in appearance" rather than "independence in fact." This project should address the basis the PCAOB arrived at permitting tax services by a registered public accounting firm. I suggest students research the process in which the PCAOB arrived at this professional practice standard, including any reference in the Sarbanes/Oxley Act and the SEC approval of this professional practice standard.

Answer rating: 100% (QA)

The PCAOBs professional practice standards related to tax services by registered public accounting firms are outlined in Sections 3522 3523 and 3524 T... View the full answer