Sarbanes-Oxley and the Securities Exchange Commission restrict auditors from providing many consulting services to their publicly traded audit clients.Which of the following is true for auditors of publicly traded companies?
I. They are restricted from providing consulting services to privately held companies.
II. There is no restriction on providing consulting services to non-audit clients.
A)I only
B)II only
C)I and II
D)Neither I or II

Question

Quizplus · Accepted Answer

The restriction on auditors providing consulting services only applies to their publicly traded audit clients. There is no restriction on providing consulting services to non-audit clients, whether they are publicly traded or privately held companies.

Sarbanes-Oxley and the Securities Exchange Commission Restrict Auditors from Providing