Audit Requirement

Overview of hostage change explosive charge U.S. Security and Exchange Commission ( bit) is a federal agency which holds chief(a) responsibility for enforcing the federal securities laws and adjust the security market in the United States. dry was constituted in 1934 as an independent, quasi-judicial regulatory agency later on the gigantic market crash in 1929. The mission of U.S. Security and Exchange Commission is to protect investors, maintain fair, orderly and good markets and hasten capital formation ( reciprocal ohm. The Investors Advocate: How the siemens Protects Investors, Maintains marketplace Integrity, and Facilitates Capital Formation. From http://www.sec.gov/about/whatwedo.shtml#create). Currently, atomic number 16 is responsible for administering Securities view of 1933 and 1934, The Trust Indenture minute of 1939, The Investment Company bear of 1940, The Investment Advisors playact of 1940, The Sarbanes-Oxley Act of 2002 and Credit Rating couns elling of life Reform Act of 2006. Congress has allowed SEC to look at 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 mesh its objective of investor protection mission.

Out of numerous provisions, surgical division 10(A) Audit Requirement is fundamental one. In 1995, with little fanfare, the SEC added a powerful new weapon to its enforcement arsenal, specifically enjoin at independent auditors ... componen t part 10A of the Securities Exchange Act of! 1934, as amended. Although, to date, the SEC has only made limited mathematical function of Section 10A, the recent spate of false financial disclosures ensures more(prenominal) 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 terce components that are audit procedures, let the audit committee bust and let the SEC know. Section...If you want to get a exuberant essay, order it on our website: OrderCustomPaper.com

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