SEC and PCAOB Independence Rules
Free CPA AUD (Auditing & Attestation) lesson in Ethics, Professional Responsibilities and General Principles. 14 min read, ~2,165 words.
SEC Rule 2-01 of Regulation S-X sets independence for issuers, the four guiding principles plus nine prohibited non-audit services. Sarbanes-Oxley §201 lists the nine bans; §203 rotates lead and concurring partners 5 years on / 5 off; §206 imposes a 1-year cooling-off before audit staff can take a financial reporting...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- I.A2
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