Chapter 5
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Chapter 5 Business failure, audit failure, audit risk Prudent person concept Common law vs statutory law Foreseen users vs foreseeable users Ordinary vs gross negligence Securities act of 1933 vs 1934 Change legal environment o Major contributions: Thursday GOOGLE: most corrupt leaders (10 of them) least corrupt countries Foreign Corrupt Practice Act of 1977 Sarbanes Oxley Act of 2002: Provide
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Transcript of Chapter 5
Chapter 5
Business failure, audit failure, audit riskPrudent person conceptCommon law vs statutory lawForeseen users vs foreseeable usersOrdinary vs gross negligenceSecurities act of 1933 vs 1934
Change legal environment Major contributions: Thursday
GOOGLE: most corrupt leaders (10 of them)least corrupt countries
Foreign Corrupt Practice Act of 1977
Sarbanes Oxley Act of 2002:
Provide
