Sarbanes-Oxley Act (SOX): Federal law that sets requirements for all U.S. public company boards, management, and public accounting firms. Particularly relevant for internal controls and financial reporting accuracy in forensic audits.
Federal Acquisition Regulation (FAR): Comprehensive set of rules governing the federal government's purchasing process, crucial if the forensic audit involves government contracts or agencies.
Anti-Money Laundering (AML) Regulations: Federal regulations designed to prevent and detect money laundering activities, essential for financial institution audits and suspicious transaction investigations.
Foreign Corrupt Practices Act (FCPA): U.S. federal law prohibiting bribery of foreign officials to obtain business advantages, crucial for international business transactions audit scope.
Dodd-Frank Wall Street Reform Act: Comprehensive financial reform legislation affecting financial institutions and requiring specific compliance measures in audit procedures.
AICPA Standards for Forensic Services: Professional standards set by the American Institute of CPAs specifically for forensic accounting services and investigations.
Generally Accepted Auditing Standards (GAAS): Systematic guidelines used by auditors when conducting audits, providing a measure of audit quality and objectives.
Statement on Standards for Forensic Services No. 1 (SSFS 1): Specific professional standards for forensic services, establishing requirements for engagement acceptance, planning, and execution.
Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain their information-sharing practices and protect sensitive data during audits.
HIPAA: Federal law protecting sensitive patient health information, crucial for forensic audits in healthcare sector.
Federal Rules of Evidence: Rules governing the introduction and use of evidence in federal court proceedings, essential for ensuring audit findings are admissible in legal proceedings.
State CPA Licensing Requirements: State-specific regulations governing CPA qualifications and practice requirements for conducting forensic audits.
Trade Secrets Protection Laws: Laws protecting confidential business information encountered during forensic audits from unauthorized disclosure.
Attorney-Client Privilege Considerations: Legal principle protecting communications between attorneys and clients, important when forensic audits are conducted under legal counsel.
E-Discovery Rules: Rules governing the discovery of electronically stored information in legal proceedings, crucial for digital forensic audit procedures.
