week 1d1

Prior to beginning work on this discussion forum, read Chapters 3 and 5 in the course textbook.

The Sarbanes-Oxley Act of 2002 placed significant restrictions on the types of consulting that may be performed by auditors for public companies. Address the following in your discussion post:

• Briefly explain why these restrictions were put into place.
• List four types of services that are prohibited by the act.
• List three types of general consulting activities that would impair the auditor’s independence based on the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct.