Sarbanes-Oxley and Corporate Governance Paper
Read “Case 15.3 Free Enterprise Fund v. Public Company Accounting Oversight Board” in Ch. 15 of the text.
Write a paper of 700- to 1,050-words in which you answer the following:
- If auditing of financial statements is required for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? Why or why not?
- How does the decision in this case impact the validity of the Board and other provisions of the Sarbanes-Oxley Act?
Cite at least 3 peer-reviewed sources.
Format your paper consistent with APA guidelines.
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PCAOB members and audit background
It is a challenge to have all members of the Public Company Accounting Oversight Board to have an auditing background because there will be conflict of interest. The Board finds ways to promote relevance, transparency, and credibility so as to serve the best interest of the investors. It is authorized that only two members can be practicing as certified public accountants. In the event that the chairperson is practicing CPA, he cannot have done it for at least five years before they are……
APA
850 words