Why do accountants come under the purview of Section 18(a)of the Securities Exchange Act of 1934?
A)because they often file reports and other documents with the SEC on behalf of clients
B)because CPAs are directly employed by the SEC
C)because all companies require an accountant's approval before buying securities from the SEC
D)because securities can only be bought through a CPA

Question

Quizplus · Accepted Answer

Accountants come under the purview of Section 18(a) of the Securities Exchange Act of 1934 because they often file reports and other documents with the SEC on behalf of clients. This section provides for liability in case of material misstatement or omission in such reports and documents. Therefore, it is necessary for accountants to adhere to the regulations and guidelines set forth in this section to ensure the accuracy and reliability of financial information submitted to the SEC.

Why Do Accountants Come Under the Purview of Section 18(a)of