Reference no: EM132461732 , Length: word count :- 1200

Corporate governance is the process that owners and other major players surrounding an organization are held accountable to for the company's requirements and resources. Corporate governance can also play a big role in the audit process. Research corporate governance and auditing and answer the following questions:

Question 1: What are 2 of the principles that surround corporate governance? How do they tie into the recent legislation that was put into place to resolve ethical challenges and changes within the last decade?

Question 2: The Generally Accepted Auditing Standards (GAAS) are based upon 10 audit guidelines that fall into 3 categories. Briefly describe the 3 main parts of the audit, and give examples of what activities would occur in each category.

Question 3: Describe the role of the audit committee. Include the outside directors in your discussion. Compare and contrast the oversight responsibility and the primary responsibility of the audit committee.

Question 4: Explain how the Sarbanes-Oxley Act impacted the auditing profession.

Question 5: Describe the key role of the PCAOB.

Question 6: Do you feel that it has met its objective?

Question 7: What-if any-changes would you want to add to the scope of the PCAOB?

• Deliverable Length: 900-1,200 words