Sarbanes-Oxley Act 2002: Primary federal law that sets requirements for all U.S. public company boards, management, and public accounting firms. Includes provisions for auditor independence, corporate responsibility, and enhanced financial disclosures.
Securities Exchange Act 1934: Federal law governing secondary trading of securities, requiring periodic reporting and establishing SEC oversight of public companies and their auditors.
Securities Act 1933: Federal law requiring registration of securities offerings and detailed financial disclosure requirements for public companies.
PCAOB Rules and Standards: Regulatory framework established by the Public Company Accounting Oversight Board for conducting audits of public companies.
GAAS: Generally Accepted Auditing Standards providing framework for conducting audits with professional competence and integrity.
AICPA Code of Professional Conduct: Ethical principles and rules that guide the conduct of Certified Public Accountants in their professional duties.
AICPA Statements on Auditing Standards: Professional standards issued by AICPA providing guidance for conducting audits of private companies.
State Board of Accountancy Regulations: State-specific rules governing the practice of public accounting within individual states.
Independence Requirements: Combined SEC, AICPA, and state-specific rules ensuring auditor independence and objectivity.
Professional Liability Provisions: Legal framework governing auditor liability and professional responsibility, including state-specific limitations.
Privacy and Confidentiality Laws: Federal and state requirements for maintaining client confidentiality and protecting sensitive information.
Documentation Standards: Requirements for maintaining audit documentation, including record retention periods and electronic storage compliance.
