Benchmark – Government Regulation of Business Paper

Benchmark – Government Regulation of Business Paper

Write a paper (2,000 to 2,500 words) regarding the regulation of financial reporting, as established through the Securities Act of 1933, Securities Exchange Act of 1934, the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB) auditing standards effective December 31, 2016. Discussion should include the following:

1. Summarize the main points for each act.

2. Compare and contrast the regulations and standards.

3. Discuss the importance of the current regulations with a focus on the PCAOB General Auditing Standards, not the audit procedures or reporting, as applicable to GAAP reporting.

4. Include a discussion of how the regulation of the accounting industry has changed since 1933 using these four regulations/standards as a timeline.