Question

The independence restrictions under PCAOB rule 3521 mirrors those of the ___ ___ ___ ___ ___ a) AICPA Code of Professional Conduct.

b) SEC rules on auditor independence.
c) Sarbanes-Oxley Act.
d) Public Company Accounting Oversight Board (PCAOB).

Answer 1

The independence restrictions under PCAOB rule 3521 mirrors those of the Public Company Accounting Oversight Board (PCAOB), which is a regulatory body established by the Sarbanes-Oxley Act of 2002.

Step-by-step explanation:

The independence restrictions under PCAOB rule 3521 mirrors those of the Public Company Accounting Oversight Board (PCAOB). The PCAOB is a regulatory body established by the Sarbanes-Oxley Act of 2002. Sarbanes-Oxley was enacted in response to major accounting scandals and aims to protect investors and increase confidence in financial information provided by public corporations.