(.06 - .16) Matters to Be Communicated (.17) Effective Date Source: SAS No. 61; SAS No. 89; SAS No. 90. See section 9380 for interpretations of this section.
The Public Company Accounting Oversight Board ( PCAOB ) is a private-sector, non-profit corporation created by the Sarbanes–Oxley Act , a 2002 United States federal law , to oversee the auditors of public companies . Its stated purpose is to "protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audit reports". Although a private entity, the PCAOB has many government-like regulatory functions, making it in some ways similar to the private " self-regulatory organizations " (SROs) which regulate stock markets , broker-dealers , etc. in the United States.
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acceptance sampling is sampling to determine whether internal control compliance is greater than or less than the tolerable deviation rate. accounting and review services are governed by official pronouncements covering compilation and review engagements. Compilation is presenting in the form of financial statements information that is the representation of management (owners) without expressing assurance. Review is inquiry and analytical procedures to provide the accountant a basis for expressing limited assurance that there are no material modifications that should be made to the statements for them to be in conformity with U.S. generally accepted accounting principles. accounting data includes journals, ledgers and other records, such as spreadsheets, that support financial statements.
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