Smakey Dog Foods

Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc.

The Securities and Exchange Commission has a significant influence on the audit of Smackey Dog Foods, Inc. By Keller CPAs. The SEC's influence comes primarily by the audit standards that have to be applied to the business and independence is one of the principles of the AICPA. The other principles are responsibilities, the public interest, integrity, objectivity and independence, due care, and scope and nature of services. The Sarbanes-Oxley Act of 2002 introduced many new requirements. These requirements relate to: the independence of audit committee members; the audit committee's responsibility to select and oversee the issuer's independent accountant; procedures for handling complaints regarding the issuer's accounting practices; the authority of the audit committee to engage advisors; and funding for the independent auditor and any outside advisors engaged by the audit committee...
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