Prior to the passage of the Sarbanes-Oxley Act,auditing in the accounting profession was self-regulating.

Question

Quizplus · Accepted Answer

Prior to the Sarbanes-Oxley Act, auditing in the accounting profession was largely self-regulating, with little external oversight or regulation. Sarbanes-Oxley brought many significant changes to the profession, including the creation of the Public Company Accounting Oversight Board (PCAOB), which now oversees and regulates auditors of public companies.

Prior to the Passage of the Sarbanes-Oxley Act,auditing in the Accounting