Sarbanes-Oxley Act (SOX): A federal law that sets requirements for all U.S. public company boards, management, and public accounting firms. Includes requirements for financial reporting, internal controls, and auditor independence.
Securities Exchange Act and Securities Act: Key federal laws governing securities markets, establishing SEC oversight, and setting requirements for financial disclosure and prevention of fraud in securities trading.
Dodd-Frank Act: Legislation that brought significant changes to financial regulation, including new requirements for accountability and transparency in the financial system.
GAAS and PCAOB Standards: Professional auditing standards that provide framework for conducting audits, including requirements for audit performance, reporting, and quality control.
AICPA Code of Professional Conduct: Principles and rules that guide certified public accountants in performing their professional responsibilities, including integrity, objectivity, and independence requirements.
SEC Regulations: Rules and requirements established by the Securities and Exchange Commission governing public company audits, reporting requirements, and auditor independence.
Privacy and Data Protection Laws: Including Gramm-Leach-Bliley Act and state privacy laws, governing the handling and protection of sensitive financial and personal information during audits.
Industry-Specific Regulations: Sector-specific requirements such as HIPAA for healthcare and FFIEC guidelines for financial institutions that must be considered during relevant audits.
Whistleblower Protection Laws: Federal and state laws protecting individuals who report violations of securities laws, including provisions under SOX and Dodd-Frank.
Independence Requirements: Comprehensive standards set by SEC, PCAOB, and AICPA governing auditor independence, including restrictions on non-audit services and relationships with audit clients.
