Sentence examples for set audit from inspiring English sources
The S.E.C. noted that the institute did not have the authority to set audit standards.
It would rely in part on private-sector bodies such as the AICPA's Auditing Standards Board to set audit standards; in Mr Sarbanes's version the board would set them itself.
A Senate committee approved draft legislation to create an independent-oversight board to set audit standards, punish wrongdoers and limit consultancy and other non-audit work by accounting firms.
This week, a Senate committee chaired by Paul Sarbanes, a Democrat from Maryland, approved draft legislation that will create an independent oversight board to set audit standards, punish miscreant auditors, and sharply limit the consulting and other non-audit work that accounting firms can undertake.
The objectives were to establish current knowledge about, and views of transfusion in our pregnant population and to establish the level of compliance with the set audit standard.
It should be able to set auditing standards, obtain testimony and documents, and discipline unprofessional conduct.
Its job is not to set accounting rules, which are determined by the Financial Accounting Standards Board, but to set auditing standards and to discipline accountants.
"As you know, the Sarbanes-Oxley Act grants the Public Company Accounting Oversight Board the authority to set auditing standards," Mr. Day wrote on behalf of the agency.
The Sarbanes-Oxley Act, which established the accounting board, authorizes it to set auditing standards but gives it the ability to simply adopt existing standards.
"We recognize the authority of the oversight board to set auditing standards and we respect that authority," said Lynn Drake, a spokeswoman for the institute.
That raises the question of "Who audits the auditors?" The new Sarbanes-Oxley Act answers that question by setting up a new body, the Public Company Accounting Oversight Board, with the power to review audits, set auditing standards and discipline accountants.
