How Has the Sarbanes-Oxley Act of 2002 Changed the Role

question 27

Essay

How has the Sarbanes-Oxley Act of 2002 changed the role of the audit committee?

---

Definitions:

Inflation

An increase in the economy’s average price level.

Expansion

Expansion refers to the phase in the economic cycle where an economy is growing and experiencing increasing levels of output, employment, and income.

Actual Output

The actual quantity of goods and services produced in an economy over a specific period.

Demand

The desire and ability of consumers to purchase goods and services at given prices.