R5 - Sarbanes-Oxley Act of 2002 Flashcards Preview

REG Section - CPA Exam > R5 - Sarbanes-Oxley Act of 2002 > Flashcards

Flashcards in R5 - Sarbanes-Oxley Act of 2002 Deck (4)
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1
Q

How many members are there of the PCAOB? How many must be CPA’s?

A

5 members; 2 CPA’s and 3 non-CPA’s

2
Q

How long must a CPA firm who audits an issuer retain documentation?

A

7 years

3
Q

How often does the PCAOB inspect registered firms performing audits?

A

Over 100 audits = annually

Under 100 audits = every 3 years

4
Q

How often must the lead audit partner rotate off the job?

A

Every 5 years