Sarbanes-Oxley Act 2002: Federal legislation that sets requirements for all U.S. public company boards, management, and public accounting firms. Critical for public company financial statement preparation.
Securities Exchange Act 1934: Federal law governing securities trading and public company reporting requirements, relevant for public company financial statements.
Internal Revenue Code: Federal tax regulations that may impact financial statement preparation and reporting requirements.
AICPA Professional Standards: Professional guidelines established by the American Institute of CPAs that govern the preparation of financial statements.
SSARS: Statements on Standards for Accounting and Review Services - Professional standards specific to preparation and review of financial statements.
GAAP: Generally Accepted Accounting Principles - The standard framework of guidelines for financial accounting and reporting in the United States.
SSTS: Statement on Standards for Tax Services - Professional standards for tax services that may impact financial statement preparation.
State Accountancy Laws: State-specific regulations governing accounting practice and financial statement preparation.
Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain their information-sharing practices and protect sensitive data.
Document Retention Requirements: IRS and state-specific guidelines for maintaining financial records and supporting documentation.
Professional Liability Requirements: State-specific regulations regarding professional liability insurance and statute of limitations for accounting services.
Privacy Laws: Federal and state-specific privacy regulations governing the handling and protection of financial information.
