Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
Question
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Chapter 4, Problem 34RSCQ

a.

To determine

Securities Act of 1933

The main purpose of Securities Act of 1933 is to protect the investor against fraud. This act took the power away from the states and put it into the hands of federal government.

To state: Primary purpose of the Securities Act of 1933.

b

To determine

Securities Exchange Act of 1934

The Securities Exchange Act of 1934 is the U.S legislative that controls the trading on the secondary market, stock exchange market and to protect investors. The secondary market is a market where the sale of financial assets such as bonds and stocks takes place.

To state: Purpose of the Securities Exchange Act of 1934

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Students have asked these similar questions
g
Explain the origin and expansive role of the Securities and Exchange Commission.
What does the Securities Act of 1933 cover?

Chapter 4 Solutions

Auditing: A Risk Based-Approach to Conducting a Quality Audit

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