If E Corporation contracted with an accounting firm to perform an audit and the accounting firm performed its duty in a non-negligent, competent manner, but failed to discover a novel embezzlement scheme, would the accounting firm be liable?

Question 18 options:

	Yes
	No

Sarbanes-Oxley Act was aimed at solving specific deficiencies in auditing practice, corporate governance and capital markets. It created a new federal agency called:

Question 13 options:

	Securities and exchange commission (SEC)
	Public company Accounting Oversight Board (PCAOB)
	Internal Revenue Service (IRS)
	Securities Exchange Act