After studying this chapter, you should be able to 2-1 Describe the nature of CPA
firms and what they do.
2-2 Describe the structure of CPA firms.
2-3 Understand the role of the Public Company Accounting
Oversight Board and the effects of the Sarbanes–Oxley
Act on the CPA profession.
2-4 Summarize the role of the Securities and Exchange Commission in accounting and auditing.
2-5 Describe the key functions performed by the AICPA.
2-6 Understand the role of international auditing standards and their relation to U.S. auditing standards.
2-7 Use U.S. auditing standards as a basis for further study.
2-8 Identify quality control standards and practices within the accounting profession.
