An act that prohibits external auditors from providing many forms of non-audit services and consulting work to public companies for which the auditor also provides a financial statement audit is the Sarbanes-Oxley Act of 2002. Thus the correct option is B.
The financial statement of a business is referred to as a written document that is prepared by the business to evaluate the profit and loss of the organization and check its performance and understand its position in the market.
Federal legislation known as the Sarbanes-Oxley Act of 2002 formed extensive financial and auditing standards for public firms. As a consequence of this law, external auditors are not allowed to provide public firms with several types of non-audit services.
Therefore, option B is appropriate.
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The complete question is
Which act prohibits external auditors from providing many forms of non-audit services and consulting work to public companies for which the auditor also provides a financial statement audit?
The Securities Exchange Act of 1933
The Sarbanes-Oxley Act of 2002
The Securities Exchange Act of 1934
The Dodd-Frank Act of 2010
