Exam 20: Legal Liability

The Sarbanes-Oxley Act of 2002 grants the PCAOB the ability to undertake two functions over registered public accounting firms and persons associated with such firms.Briefly explain the purpose of the PCAOB,making sure to reference their two major functions.

(Essay)

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Question 61

Rule 10b-5 under Section 10(b)of the Securities Exchange Act of 1934 imposes liability on an accountant for violation of certain duties.Which of the following is an investor not required to prove to recover from a CPA?

(Multiple Choice)

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Question 62

An auditor can be sued by a client for negligence under common law.

(True/False)

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Question 63

The Foreign Corrupt Practices Act requires that

(Multiple Choice)

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Question 64

Which of the following is something that the plaintiff must prove in order for an accountant to be liable for damages under Section 10(b)and Rule 10b-5 of the Securities Exchange Act of 1934?

(Multiple Choice)

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Question 65

Showing 61 - 65 of 65

The Sarbanes-Oxley Act of 2002 grants the PCAOB the ability to undertake two functions over registered public accounting firms and persons associated with such firms.Briefly explain the purpose of the PCAOB,making sure to reference their two major functions.

Rule 10b-5 under Section 10(b)of the Securities Exchange Act of 1934 imposes liability on an accountant for violation of certain duties.Which of the following is an investor not required to prove to recover from a CPA?

An auditor can be sued by a client for negligence under common law.

The Foreign Corrupt Practices Act requires that

Which of the following is something that the plaintiff must prove in order for an accountant to be liable for damages under Section 10(b)and Rule 10b-5 of the Securities Exchange Act of 1934?

An Introduction to Assurance and Financial Statement Auditing

The Financial Statement Auditing Environment

Audit Planning, Types of Audit Tests, and Materiality

Risk Assessment

Evidence and Documentation

Internal Control in a Financial Statement Audit

Auditing Internal Control Over Financial Reporting

Audit Sampling: An Overview and Application to Tests of Controls

Audit Sampling: An Application to Substantive Tests of Account Balances

Auditing the Revenue Process

Auditing the Purchasing Process

Auditing the Human Resource Management Process

Auditing the Inventory Management Process

Auditing the Financinginvesting Process: Prepaid Expenses, Intangible Assets, and Property, Plant, and Equipment

Auditing the Financinginvesting Process: Long-Term Liabilities, Stockholders Equity, and Income Statement Accounts

Auditing the Financinginvesting Process: Cash and Investments

Completing the Audit Engagement

Reports on Audited Financial Statements

Professsional Conduct,Independence,and Quality Control

Assurance,Attestation,amd Internal Auditing Services-professional Judgement Module

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