The Sarbanes-Oxley Act of 2002 mandated significant changes in the relationship between CPA firms and their publicly held clients.

Specifically, Section 301 of the law established that "the audit committee ... be directly responsible for the appointment ... [of the] public accounting firm." The section further states that "the public accounting firm shall report directly to the audit committee."

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access