Problem
1. How will Sarbanes-Oxley of 2002 affect FASB's jurisdiction and independence?
2. In late 1990, the "Wyden Amendment" was stricken from the Crime Bill passed by Congress. The amendment would have required reporting by auditors on internal controls. Letters sent by FEl members opposing the amendment were instrumental in its defeat. The A1CPA supported the amendment. From an agency theory perspective, why do you think the AlCPA supported the amendment and the FEI was against it? Explain.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.