Under the Private Securities Litigation Reform Act (the Act), independent auditors are required to first a. Report
Question:
a. Report in writing all instances of noncompliance with the Act to the client’s 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 client’s board of directors.
d. Resign from the audit engagement and report the instances of noncompliance with the Act to the SEC.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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a Incorrect Reporting clearly inconsequential noncompliance with the A...View the full answer
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Related Book For 
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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