Sarbanes-Oxley Act (SOX) 2002: Federal law that sets requirements for all U.S. public company boards, management, and public accounting firms. Includes provisions for corporate responsibility, enhanced financial disclosures, and fraud accountability.
Securities Exchange Act 1934: Federal law governing secondary trading of securities, establishing the SEC, and requiring periodic reporting for public companies.
Foreign Corrupt Practices Act (FCPA): Federal law prohibiting the payment of bribes to foreign government officials and mandating proper accounting practices for international business.
Bank Secrecy Act (BSA): Federal law requiring financial institutions to assist government agencies in detecting and preventing money laundering.
USA PATRIOT Act: Federal law expanding BSA requirements and adding additional due diligence and reporting requirements for financial institutions.
False Claims Act: Federal law that imposes liability on persons and companies who defraud governmental programs, relevant for audits involving government contracts or funding.
AICPA Standards: Professional standards set by the American Institute of Certified Public Accountants governing audit conduct and methodology.
GAAS: Generally Accepted Auditing Standards providing framework for conducting financial statement audits.
GAAP: Generally Accepted Accounting Principles providing standardized accounting rules and procedures.
Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain their information-sharing practices and protect sensitive data.
HIPAA: Health Insurance Portability and Accountability Act governing privacy and security of medical information.
Federal Rules of Evidence: Rules governing the introduction and use of evidence in federal court proceedings, crucial for forensic audit documentation.
Federal Rules of Civil Procedure: Rules governing civil procedure in US federal courts, including requirements for evidence preservation and discovery.
Dodd-Frank Act: Federal law that includes whistleblower provisions and financial regulation reforms affecting audit requirements.
State CPA Licensing Requirements: State-specific regulations governing the licensing and practice of Certified Public Accountants.
