1 What is the Public Company Accountability Oversight Board? How many members are on this board? How many of these members may be certified public accountants (CPAs)? What are the functions of this board? What is it empowered to do?

2 The act prohibits auditors of publicly held companies from providing certain types of services to an audit client. Describe these prohibited services.

3 For how long must auditors keep supporting documentation (including e-mail)? How often must an audit partner in charge of an audit be rotated?

4 What are audit committees? Who serves on them? What functions do these committees perform?

5 Summarize the new protections and penalties provided for under the act.