Under SOX,accountants for public companies must keep all audit work papers for at least

Question

Quizplus · Accepted Answer

Under SOX, accountants for public companies must keep all audit work papers for at least seven years. This requirement is aimed at ensuring that auditors can be held accountable for their work and that companies can be audited if necessary. The seven-year period also aligns with the statute of limitations for bringing fraud claims under federal law. Keeping audit work papers for at least seven years is important for ensuring the accuracy and transparency of financial reporting, as well as for maintaining investor confidence in public companies.

Under SOX,accountants for Public Companies Must Keep All Audit Work