I'm a Becker – took AUD 2/24
Tim said,, “There's an annual requirement by the SEC of a quality control review for anybody that audits – I think more than 10 public companies.” When he said that, I'm like, “Wait! I read that it was over 100!” So, then I looked at the text and found it was over 100. They announced a correction of error on the updates section of the web site, and that was the focus – over 100.
So, then on the test, what question do you think I got? “How often is a firm supposed to have quality control…if they audit UNDER 100 public companies.
1, 2, 3, or 4 years.” Doh! Becker didn't say a thing about less than 100 public companies!