Question
Under the Private Securities Litigation Reform Act (the act), independent auditors are required to first: A: report in writing all instances of noncompliance with the
Under the Private Securities Litigation Reform Act (the act), independent auditors are required to first:
A: report in writing all instances of noncompliance with the Act to the clients board of directors.
B: report to the SEC all instances of noncompliance with the Act they believe have a material effect on financial statements if the board of directors does not first report to the SEC.
C: report clearly inconsequential noncompliance with the Act to the audit committee of the clients board of directors.
D: resign from the audit engagement and report the instances of noncompliance with the Act to the SEC.
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