Private Securities Reform Act of 1995
4-15 Identify five other ways in which the Private Securities Reform Act of 1995 will potentially change auditors’ legal liability. Explain how each is of potential benefit to the auditor.
a. Identify how the Sarbanes-Oxley Act of 2002 changed the audit environment for auditors.
b. Identify and explain new liabilities for managements of public companies created by the Sarbanes-Oxley Act of 2002.