SOX

Question 1

SOX applies to
which companies

Answer 1

publicly traded
companies

Question 2

SOX primarily
focused on 2 aspects

Answer 2

1. Public company
   governance
2. Public accounting
   profession oversight

Question 3

Purpose of SOX

Answer 3

1. Restore confidence
   in markets
2. Increase accountability

Question 4

3 responsibilities
of PCAOB

Answer 4

1. Oversee audit of
   public companies
2. Establish audit reporting
   standards and rules
3. Inspect, investigate and
   enforce compliance on the
   part of registered public
   accounting firms and those
   associated with the firms

Question 5

public accounting
firms may perform
the following for an
audit client

Answer 5

audit + tax
preparation