Question: Summarize the major differences between the AICPAs Code of Professional Conduct independence rules and the SECs independence rules for auditors of public companies. Briefly describe

Summarize the major differences between the AICPA’s Code of Professional Conduct independence rules and the SEC’s independence rules for auditors of public companies. Briefly describe why the SEC’s requirements diverged from those of the AICPA in the early 2000s.

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While most of the SECs independence rules are very similar to the AICPAs the SEC has added some important restrictions in the following areas Provisio... View full answer

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