PCAOB

Question 1

Name three FRORs.

Answer 1

Any of these: directors, CEOs, presidents, CFOs, COOs, general counsel, CAOs, controllers, directors of internal audit, directors of financial reporting, treasurers, or other equivalent positions.

Question 2

Number of companies audited to require annual PCAOB inspection for a firm.

Answer 2

100

Question 3

Three steps to obtaining approval from audit committee to provide permissible NAS.

Answer 3

1. )Describe
2. )Discuss
3. )Document

Question 4

Forms of compensation that get a public company audit firm in trouble.

Answer 4

Contingent fees, and commissions

Question 5

Types of tax transactions that may not be serviced for a public company audit client.

Answer 5

Confidential, and Aggressive.

Question 6

Who established the PCAOB?

Answer 6

The Sarbanes-Oxley Act of 2002