Sarbanes-Oxley Act 2002: Primary federal law that establishes requirements for all U.S. public company boards, management, and public accounting firms. Sets standards for external auditor independence and corporate responsibility.
Securities Exchange Act 1934: Federal law governing secondary trading of securities, establishing the SEC, and requiring periodic reporting for public companies. Impacts audit requirements and disclosures.
Securities Act 1933: Federal law requiring registration of securities offerings and detailed financial disclosure. Sets foundation for audit requirements in securities offerings.
Private Securities Litigation Reform Act 1995: Law affecting auditor liability and responsibility in securities litigation, including requirements for reporting fraud.
AICPA Statements on Auditing Standards: Professional standards issued by AICPA that provide framework for audit conduct and reporting, including communication requirements.
PCAOB Standards: Standards set by the Public Company Accounting Oversight Board for audits of public companies, including specific communication requirements.
Generally Accepted Auditing Standards: Systematic guidelines used by auditors when conducting audits, including standards for audit communications and reporting.
Statement on Standards for Attestation Engagements: Professional standards for CPAs performing attestation services, including specific communication requirements.
SAS 114: Specific standard governing auditor's communication with those charged with governance, outlining required communications and their timing.
SAS 115: Standard specifically addressing requirements for communicating internal control related matters identified in an audit.
AICPA Code of Professional Conduct: Ethical guidelines including independence requirements that must be reflected in audit communications.
SEC Independence Rules: Specific requirements for auditor independence when dealing with publicly traded companies, affecting communication content.
Professional Ethics Guidelines: General ethical principles governing audit practice, including confidentiality and communication requirements.
