Legal requirements Flashcards
1
Q
regulates the initial offering of securities by a company or underwriter
A
Securities Act of 1933
2
Q
regulates the trading of securities through brokers and exchanges
A
Securties and Exchange Act of 1934
3
Q
who can override FASB standards
A
SEC
4
Q
who does the SEC’s authority extend to
A
Publically traded company
5
Q
Establishes that auditors must verify the effectiveness of internal controls. It created PCAOB.
A
Sarbanes-Oxley
6
Q
imposes stricter regulations on companies and limits bailouts for big banks. smaller business entities are exempt from internal audits
A
Dodd-Frank Act
