Has Audit Quality Improved Since the Passage of Sarbanes-Oxley Act

question 62

Multiple Choice

Has audit quality improved since the passage of Sarbanes-Oxley Act (SOX) ? Which of the following statements is true with regards to audit quality since the passage of SOX?

• A) The frequency of financial statement restatements has increased since SOX.
• B) PCAOB audit engagement findings continue to document a high level of audit deficiencies.
• C) Finally, the auditing professions agrees on the definition of audit quality.
• D) No progress has been made on the definition of what are called "Audit Quality Indicators" since SOX.