Auditor Independence & Ethics

The materials here are predominantly concerned with professional conduct and standards as they relate to working on engagements, that is, the process by which a client hires an auditor to do an audit. Standards and material related to accounting and auditing specifics, are in the Standards section of the guide. We have also included some peer review resources as they relate to auditor engagements.

AICPA Professional Standards by Published for the American Institute of Certified Public Accountants by Commerce Clearing House
Call Number: HF5667 .A43
One source to access the standards and statements the AICPA develops, issues, and enforces including Continuing Professional Education (CPE) Programs Standards, Peer Review Standards, Audit and Attest Standards, Code of Professional Conduct, etc.

Internet Resources

Peer Review Interest Area (AICPA) External
Most of the information is for accounting professionals, but there is information for the public. Not all information is free, some is for members only.
Professional Ethics Division (AICPA) External
Most of the information is for accounting professionals, but there is information for the public. Not all information is free, some is for members only.
Code of Professional Conduct (AICPA) External
The guidance and rules for all AICPA members, for example those in public practice, industry, government and education, to follow in regards to the performance of their professional responsibilities. CCH IntelliConnect Accounting Research Manger.
Peer Review Standards (AICPA) External
Continuing Professional Education (CPE) Programs Standards (AICPA) External

Sarbanes-Oxley Act of 2002

Material related to Sarbanes-Oxley—specifically information about its background—is included here because in part the intent of the law and the established duties of the Public Company Accounting Oversight Board (PCAOB), were to: inspect, investigate, and enforce compliance on the part of registered public accounting firms, their associated persons, and certified public accountants. We have included the legislative material for the law including links to the bill, congressional reports, and public law as well as information looking at the law and oversight process.

The linked legislation below comes from Congress.gov and GovInfo.gov:

H.R.3763 - Sarbanes-Oxley Act of 2002 (related bills: H. Res. 395 and S 2673)
Official Name - To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes.
Name passed by HOUSE - Corporate and Auditing Accountability, Responsibility, and Transparency Act of 2002 or Corporate Accountability bill (identified by CRS) or Accounting Industry Reform bill (identified by CRS)
Name passed by SENATE - Public Company Accounting Reform and Investor Protection Act of 2002 or White-Collar Crime Penalty Enhancement Act of 2002 or Corporate and Criminal Fraud Accountability Act of 2002
House Report 107-414
Corporate and Auditing Accountability, Responsibility, and Transparency Act OF 2002
House Report 107-610 (Conference Report)
Sarbanes-Oxley Act of 2002
Title I: Public Company Accounting Oversight Board - Establishes the Public Company Accounting Oversight Board (Board) to: (1) oversee the audit of public companies that are subject to the securities laws; (2) establish audit report standards and rules; and (3) inspect, investigate, and enforce compliance on the part of registered public accounting firms, their associated persons, and certified public accountants.
Public Law No: 107-204 [PDF, 288 KB]
Signed by the President - 7/30/2002
To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes.
Public Law 107-204 (116 Stat. 745) [PDF, 10.6 MB]

The following resources come from related government and other external websites:

15 USC Ch. 98: Public Colmpany Accounting Reform and Corporate Responsibility
Accounting Profession: Oversight, Auditor Independence, and Financial Reporting Issues
This May 2002 GAO report was prepared in response to Senator Sarbanes' letter asking about what Congress could do to strengthen the accounting profession. (GAO-02-742R)
Introduction to Financial Services: Accounting and Auditing Regulatory Structure, U.S. and International (PDF,562 KB )
This a 2023 In Focus provides an overview of how accounting and auditing standards are created and regulated in the private sector, the federal government, and state and local governments.
There are earlier editions of this report.
Public Accounting Oversight Board (PCAOB) External
The Public Company Accounting Oversight Board (PCAOB) is a private, nonprofit corporation created by the Sarbanes-Oxley Act of 2002 to oversee the auditors of public companies. Also found on the CCH IntelliConnect Accounting Research Manger.
Sarbanes-Oxley Rulemaking and Reports
This is an archived website from the Securities & Exchange Commission and is included for historical purposes as it may have out of date information (last document from 2003).

Accounting & Auditing Resource Guide

Auditor Independence & Ethics

Internet Resources

Sarbanes-Oxley Act of 2002