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Regulatory Considerations
Statement on Auditing Standards No. 99, Consideration of Fraud in a Financial Statement Audit, helps auditors determine whether financial statements are free of material misstatement due to error or fraud. At the same time, passage of the Sarbanes-Oxley Act and creation of the Public Company Accounting Oversight Board further underscore the importance of corporate governance issues. This section provides background on these developments, including materials for educators and students.
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