What are the steps of conducting an inspection by the pcaob

Reference no: EM132694364

The PCAOB and SEC coordinate their efforts to ensure public firms' compliance with their rules and regulations and to protect investors. Section 106 of the Sarbanes-Oxley Act of 2002 requires that auditors of a U.S. issuer registered with the PCAOB consent to produce workpapers when requested by either the SEC or the PCAOB. Among the common investigations by the PCAOB is the failure to cooperate with an inspection or investigation. Likewise, Rule 102(e) of the SEC "Improper Professional Conduct" gives the SEC the power to sanction auditors if there is professional misconduct.

Question a) What are the steps of conducting an inspection by the PCAOB?

Question b) What are the implications of violating the PCAOB inspections rules (types of sanctions) and discovery of audit deficiencies on Loxon?

Reference no: EM132694364

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