Sarbanes-Oxley Act (SOX): Federal law that sets requirements for all U.S. public company boards, management, and public accounting firms. Key for defining auditor independence and corporate responsibility.
Securities Exchange Act of 1934: Federal law governing secondary trading of securities and establishing the SEC, which impacts reporting and disclosure requirements in assurance engagements.
Securities Act of 1933: Federal law requiring registration of securities offerings and detailed financial disclosure, affecting the scope of many assurance engagements.
AICPA SSAEs: Statements on Standards for Attestation Engagements that provide the framework for assurance services other than audits of financial statements.
PCAOB Auditing Standards: Standards set by the Public Company Accounting Oversight Board that govern the audits of public companies and other issuers.
AICPA Code of Professional Conduct: Ethical principles and rules that guide the conduct of CPAs in all professional activities, including assurance engagements.
GAAS: Generally Accepted Auditing Standards that set the minimum standard for auditing private companies in the United States.
State Accountancy Laws: State-specific regulations governing the practice of public accountancy, including licensing requirements and professional standards.
Professional Liability Regulations: Laws and regulations governing the liability of accounting professionals in assurance engagements, including limitations and insurance requirements.
Privacy Laws: Federal and state laws governing data protection and privacy, including Gramm-Leach-Bliley Act for financial institutions and state-specific privacy requirements.
