Question

What agency has the ultimate authority in defining independence for publicly traded companies?

Answer 1

Answer:

Explanation:

The audit firm's independence is impaired if ... Public accounting firms cannot be both the internal and external auditors .

Answer 2

Complete question:

What agency has the ultimate authority for defining independence for public companies?

A. AICPA.

B. SEC.

C. Department of Justice.

D. Congress.

Answer:

SEC agency has the ultimate authority for defining independence for public companies

Explanation:

The United States Securities and Exchange Commission is an autonomous body of the federal government of the United States.

The SEC was established, along with the 1934 Stock Exchange Act, for the restoration of investor trust in our capital markets, through a accurate knowledge and consistent rules for fair dealing between investors and markets.

A three-part mission is to secure investors through the U.S. Securities and Exchange Commission (SEC). Keep markets equal, orderly and effective. Enabling the development of capital.

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