Question 2 1 pts Which of the following is true regarding PCAOB rules? O The PCAOB requires firms auditing public companies to disclose the name of the engagement partner. O The PCAOB has no procedure by which a firm may seek approval from a public company's audit committee for provision of permitted nonaudit services. O Auditors may not provide tax services to public company audit clients. O Auditors of public companies may provide tax services to persons in a financial reporting oversight role in a public company audit client. Question 5 1 pts Which of the following is true regarding Sarbanes-Oxley (SOX) rules for auditors of public companies? OSOX allows an audit partner to receive compensation based on selling nonaudit services to attest clients. 0 SOX requires public companies to rotate audit firms every six years. O SOX prohibits an auditor of a public company from providing any service or product to a public company audit client on a contingent fee basis. O SOX allows audit firms to provide legal services to public company audit clients. Question 13 1 pts According to the U.S. Department of Labor, an auditor of an employee benefit plan would be considered independent if O The auditor is committed to acquire a material indirect financial interest in the plan sponsor. O An actuary associated with the auditor's firm renders services to the plan. O A member of the auditor's firm is an investment advisor to the plan. 0 The auditor's firm maintains financial records for the plan. Question 14 1 pts Under SEC independence rules, which of the following is not true? 0 Independence is impaired if any partner, principal, shareholder, or professional employee of the firm (and any of their immediate family members or close family members) own more than 5% of a client's stock. O Independence is impaired if the firm or any covered persons or their immediate family members serve as voting trustees of a trust containing an audit client's securities even if they have no authority to make investment decisions. O An accounting firm may maintain an account in an audit client bank without impairing independence so long as the likelihood of the bank experiencing financial difficulties is remote. O Independence is impaired if an audit client has agreed to acquire any direct investment in the accounting firm