Assignment 2: LASA 1: Reporting Requirements

Assignment 2: LASA 1: Reporting Requirements
Dewey Wright and Moore have just been approached by a new client AV Imports and Exports a company that trades goods with various countries. You are in charge of an audit engagement.
AV Imports and Exports is a publicly traded company that does several billions of dollars of business every year. As partner at Dewey Wright and Moore you understand the ramifications of the audit of a company of this size. Regulation is stringent and the impact on the firm as well as on the society can be substantial if the audit fails.
As you have interns and first year staff assisting you with this audit it is important that they are educated on the risk the regulation that governs the audit as well as both the client and firm conducting the audit. The Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) are the major regulators of concern. To educate your staff on regulation and importance of conducting the audit properly you instruct them to do the following exercise.
Visit the PCAOB Web site ( and the U.S. SEC Web site ( Review the reporting requirements for publicly traded companies including Sarbanes-Oxley (SOX) requirements. Analyze the impact of the reporting requirements on the auditing profession.
In an 8-10 page paper respond to the following:
Give reasons for your assertions and format your paper in APA. You should have at least 6 outside sources in addition to your textbook and websites given above.

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