The Sarbanes-Oxley Act of 2002 Placed Significant Restrictions on the Types

question 68

Essay

The Sarbanes-Oxley Act of 2002 placed significant restrictions on the types of consulting that may be performed by auditors for their public company audit clients.
a.List four types of services that are prohibited by the Act.
b.List three types of general consulting activities that would impair the auditors' independence based on the AICPA Code of Professional Conduct.

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Definitions:

Number Of Witnesses

A factor in social psychology that influences the likelihood of individuals to help in an emergency, part of the bystander effect.

Malicious And Abusive

Behavior that is intentionally harmful, damaging, or hostile, particularly in the context of digital interactions or personal relationships.

Physical Punishment

The use of physical force with the intention of causing a person to experience bodily pain or discomfort, so as to correct or control their behavior.

Collectivistic Cultures

Societies that prioritize group goals above individual desires or interests, emphasizing family and community cohesion.