F6 Flashcards

1
Q

PCAOB must conduct an inspection once every

A

Partner must rotate every 5 years
Three years for companies that issue 100 or fewer audit reports
Yearly of more than 100

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2
Q

The PCAOB consists of

A

two CPAs and three non-CPAs.

Established by the Sarbanes-Oxley Act of 2002

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3
Q

The Sarbanes-Oxley Act required companies to have an

A

Audit committee

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4
Q

what does the audit committee do

A

They appoint an auditor, discuss compensation, and resolve disagreements between the auditors and management

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5
Q
A
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