Audit Requirement

Overview of security measure change centering U.S. Security and Exchange Commission ( bit) is a federal agency which holds radical responsibility for enforcing the federal securities laws and adjust the security market in the United States. sulfur was constituted in 1934 as an independent, quasi-judicial regulatory agency afterwards the gigantic market crash in 1929. The mission of U.S. Security and Exchange Commission is to protect investors, maintain fair, orderly and high-octane markets and hasten capital formation ( atomic number 16. The Investors Advocate: How the secant Protects Investors, Maintains marketplace Integrity, and Facilitates Capital Formation. From http://www.sec.gov/about/whatwedo.shtml#create). Currently, southward is responsible for administering Securities evaluate of 1933 and 1934, The Trust Indenture minute of 1939, The Investment Company mould of 1940, The Investment Advisors come of 1940, The Sarbanes-Oxley Act of 2002 and Credit Ratin g look of life Reform Act of 2006. Congress has allowed SEC to become obliging enforcement actions against individual or companies in violation of securities law. It is the primary eubstance to regulate public companies and their activities in United States. SEC has enacted several(a) rules, regulations and releases to watch over its objective of investor protection mission.

Out of numerous provisions, surgical puss 10(A) Audit Requirement is fundamental one. In 1995, with little fanfare, the SEC added a powerful new weapon to its enforcement arsenal, specifically enumerate at independent auditors ... co mponent part 10A of the Securities Exchange ! Act of 1934, as amended. Although, to date, the SEC has only made limited consumption of Section 10A, the recent spate of false financial disclosures ensures more than massive use of this powerful new weapon (Hecht, Charles. The SECs New Weapon: Section 10A. Retrieved July 2002 from http://accounting.smartpros.com/x34666.xml). Section 10(A) has trinity components that are audit procedures, let the audit committee lean and let the SEC know. Section...If you want to get a adequate essay, order it on our website: OrderCustomPaper.com

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