AUDIT 401 C2 || GET IT CORRECT.
Who does the Sarbanes-Oxley Act and PCAOB apply to?
What does it do? correct answers Applies to public companies.
-Oversees auditors of public companies
-Establishes auditing and quality control standards
-Performs inspections of registered public accounting firms
Important Forms filed with SEC
S-1
8-K
10-K
10-Q correct answers Forms
S-1 - New security issuance to the public
8-K - Significant corporate events
10-K - annual report filed annually at close of each fiscal year
10-Q - Quarterly report, requires auditor reviews
Key functions of AICPA correct answers Auditing standards - issue Statements on Auditing
Standards (SASs) to audit all entities other than publicly traded companies and broker-dealer
registered with SEC in the U.S.
Compilation and review standards
In a compilation service, the accountant helps the client prepare financial statements without
providing any assurance
Who does the Sarbanes-Oxley Act and PCAOB apply to?
What does it do? correct answers Applies to public companies.
-Oversees auditors of public companies
-Establishes auditing and quality control standards
-Performs inspections of registered public accounting firms
Important Forms filed with SEC
S-1
8-K
10-K
10-Q correct answers Forms
S-1 - New security issuance to the public
8-K - Significant corporate events
10-K - annual report filed annually at close of each fiscal year
10-Q - Quarterly report, requires auditor reviews
Key functions of AICPA correct answers Auditing standards - issue Statements on Auditing
Standards (SASs) to audit all entities other than publicly traded companies and broker-dealer
registered with SEC in the U.S.
Compilation and review standards
In a compilation service, the accountant helps the client prepare financial statements without
providing any assurance
