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2 As specified in Title II of the Sarbanes Oxley Act (SOX), which of the following non-audit services to
dit services to audit clients are not prohibited from being performed by a registered public accounting firm if the pre-approved by the au
the pre-approved by the audit committee and disclosed to the SEC?
1 The Committee of Sponsoring Organization of the Treadway Commission
In response to high profile cases involving fraudulent financial reporting, a group of professional organisations and
known familiarly as COSCO, to determine the causes.
The Outcome was the development of a framework that has become the benchmark against which an entity's inter
The Public Company Accounting Oversight Board was established to oversee the audits of public companies. The Fi
established to advocate for and protect the accounting profession.
According to SOX Title II, internal audit outsourcing services; management functions, which include human resource
Provided they are pre-approved by the audit committee and disclosed to the SEC, a CPA firm may provide tax servic
When transactions are complex, many individuals within the entity will not understand the intricacies and, as a resu
Ineffective oversight by governance also creates an opportunity for individuals to commit fraud but does not provid
Access that are easily traced tend to result in apprehension and prosecution of the perpetrator of a theft, discourag
Stock options are due to expire shortly after financial statements are issued create and incentive to overstate resuls
rofessional organisations and special interest groups involved in accounting formed the Committee of Sponsoring Organizations of the Tre
which include human resource services; and legal services and other expert services unrelated to the audit are all prohibited.
PA firm may provide tax services to an audit client.
d the intricacies and, as a result, it becomes easier to deceive others, creating an opportunity to commit fraud.
mmit fraud but does not provide an incentive. A belief that the theft is a common practive is a rationalization, not an opportunity.
erpetrator of a theft, discouraging such theft.
d incentive to overstate resulst in order to increase the value of the options, but it does not provide an opportunity.
oring Organizations of the Treadway Commission,
, not an opportunity.