Audit Requirement

Overview of Security change Commission
U.S. Security and Exchange Commission ( bit) is a federal agency which holds primary responsibility for enforcing the federal securities laws and adjust the security market in the United States. SEC was constituted in 1934 as an independent, quasi-judicial regulatory agency after the gigantic market crash in 1929. The mission of U.S. Security and Exchange Commission is to protect investors, maintain fair, orderly and efficient markets and hasten capital formation (SEC. The Investors Advocate: How the SEC Protects Investors, Maintains marketplace Integrity, and Facilitates Capital Formation. From http://www.sec.gov/about/whatwedo.shtml#create).
Currently, SEC is responsible for administering Securities guess of 1933 and 1934, The Trust Indenture minute of 1939, The Investment Company Act of 1940, The Investment Advisors Act of 1940, The Sarbanes-Oxley Act of 2002 and Credit Rating way of life Reform Act of 2006. Congress has allowed SEC to bring obliging enforcement actions against individual or companies in violation of securities law. It is the primary eubstance to regulate public companies and their activities in United States.
SEC has enacted several(a) rules, regulations and releases to pursue its objective of investor protection mission.



Out of numerous provisions, surgical incision 10(A) Audit Requirement is fundamental one. In 1995, with little fanfare, the SEC added a powerful new weapon to its enforcement arsenal, specifically tell at independent auditors ... component part 10A of the Securities Exchange Act of 1934, as amended. Although, to date, the SEC has only made limited use of Section 10A, the recent spate of false financial disclosures ensures more massive use of this powerful new weapon (Hecht, Charles. The SECs New Weapon: Section 10A. Retrieved July 2002 from http://accounting.smartpros.com/x34666.xml). Section 10(A) has trine components that are audit procedures, let the audit committee endure and let the SEC know.
Section...If you want to get a enough essay, order it on our website: Orderessay



If you want to get a full essay, wisit our page: write my essay .