Which of the following is NOT one of the most relevant sources of civil liabilities for auditors charged with failing to adhere to the requirements of the laws in carrying out professional obligations?
A) Securities Act of 1933
B) Private Securities Litigation Reform Act of 1995
C) Securities and Exchange Act of 1934
D) Sarbanes-Oxley Act of 2002

Question

Quizplus · Accepted Answer

The Private Securities Litigation Reform Act of 1995 primarily addresses the process and limitations around securities fraud litigation against issuers and does not directly impose civil liabilities on auditors for failing to adhere to professional obligations. The other acts listed directly relate to auditor responsibilities and the potential for civil liabilities for non-compliance.

Which of the Following Is NOT One of the Most