Public oversight of the audit profession
You'll learn how public oversight of the audit profession works and why it's essential for maintaining audit quality and public trust.
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In this lesson
- 0:00 Public oversight of the audit profession
- 0:47 FRC and Aga regulatory framework
- 1:54 Audit quality review process
- 2:47 PCAOB oversight in the US
- 3:35 Sarbanes-Oxley and executive accountability
- 4:22 SEC filing requirements and controls
About this lesson
This lesson covers the key regulatory bodies in the UK and US—the FRC (soon to be replaced by the Aga) and the PCAOB—and explains how they monitor both audit firms and individual audits to ensure auditing standards are met. You'll also discover the role of the Sarbanes-Oxley Act and how executive certification requirements strengthen internal controls and accountability in public companies. This is core knowledge for understanding the regulatory framework that underpins professional audit practice.
Duration: 5m
Transcript
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