The Securities and Exchange Act of 1934:
A) Limits the financial liability of independent auditors except in the case of gross negligence
B) Requires the filing of audited annual statements and reviewed quarterly statements
C) Regulates the initial offering financial statements of securities
D) Regulates which services may be performed for a publicly-traded company by an audit firm

Question

Quizplus · Accepted Answer

The Securities and Exchange Act of 1934 requires the filing of audited annual statements and reviewed quarterly statements, among other regulations related to the securities industry. It does not limit the financial liability of independent auditors, regulate the initial offering financial statements of securities, or regulate which services may be performed for a publicly-traded company by an audit firm.