Sarbanes-Oxley Act
Read “Case 15.3 Free Enterprise Fund v. Public Company Accounting Oversight Board” in Ch. 15 of the text.
Write a paper of 700- to 1,050-words in which you answer the following:
- If auditing of financial statements is required for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? Why or why not?
- How does the decision in this case impact the validity of the Board and other provisions of the Sarbanes-Oxley Act?
Cite at least 3 peer-reviewed sources.
Format your paper consistent with APA guidelines.
Answer Preview
The Sarbanes-Oxley Act was an Act that was passed into law in 2002 by President Bush to help reduce the number of fraudulent activities reported in the presentation of financial statements by organizations (Stimson, 2012). The Act was passed to ensure that organizations presented financial statements that showed a true reflection of how the organization was…
(886 Words)