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
2
Q
The PCAOB consists of
A
two CPAs and three non-CPAs.
Established by the Sarbanes-Oxley Act of 2002
3
Q
The Sarbanes-Oxley Act required companies to have an
A
Audit committee
4
Q
what does the audit committee do
A
They appoint an auditor, discuss compensation, and resolve disagreements between the auditors and management
5
Q
A
