$1.$ Due in large part to corporate fraud in financial reporting, the government enacted a number of reforms to the accounting profession during early $2000.$ Congress had strong doubts that the accounting profession had the ability to self regulate itself as it had done in the past. A number of reforms were made to the accounting profession$$s system of self$-$regulation due in large part to the scandals. The Sarbanes$-$Oxley Act of $2002$ created the Public Company Accounting Oversight Board. Explain the major responsibilities of this board.

a$.$ Give an overview of the legislation that altered the self$-$regulation process for accounting. What are the major responsibilities of this board? Hint: it was $2002!$

b$.$ Explain the regulation process $($regulatory authority$)$ for accounting firms that audit public companies.

c$.$ Explain the regulation process $($regulatory authority$)$ for accounting firms that do not audit public companies.

$2.$ Explain why public companies are required to have to have an integrated audit? Give an example of a company's actions that provoked the need for the creation of the PCAOB and regulation requirement for an integrated audit of a financial audit of a public company.

$3.$ Describe the differences between the $3$ engagements: $1.$ an audit $($examination$)2.$ a review $3.$ a compilation. What is the level of assurance being offered for each engagement? Give an example of when a business would request each engagement.