According to the
textbook, in providing guidance on auditing standards, the GAAS have often
been criticized for failing to provide useful guidelines for conducting
audits. Critics argue that the language contained within an unqualified
audit report—i.e., "no material misstatements exist"—is merely
an excuse to avoid legal liability. Take a position, and debate the
legitimacy of the comment.
Evaluate whether the
SOX and PCAOB have been effective in reducing unethical behavior of
corporate executives. Propose at least two amendments or provisions to SOX
that would make management more accountable for the accuracy of financial
statements, or provide additional sanctions that might reduce unethical
behavior. Support your position.
keep the bullet point and solution together and make the solution at least a