1. Describe the legislation that altered the self-regulation process of the accounting profession.
2. Describe the regulation process for accounting firms that audit (A) public companies and (B) non-public companies.
3. Describe how this new self-regulation process would affect you as an auditor working for a large public accounting firm today. Discuss the strengths and weaknesses of self-regulation in the accounting profession as a result of the historical events you described.

I need help with number 3, not really sure how to answer this question.