professional standards

(10) Professional standards The term “professional standards” means— (A) accounting principles that are— (i) established by the standard setting body described in section 19(b) of the Securities Act of 1933 [ 15 U.S.C. 77s(b) ], or prescribed by the Commission under section 19(a) of that Act [ 15 U.S.C. 77s(a) ] or section 78m(b) of this title ; and (ii) relevant to audit reports for particular issuers, or dealt with in the quality control system of a particular registered public accounting firm; and (B) auditing standards, standards for attestation engagements, quality control policies and procedures, ethical and competency standards, and independence standards (including rules implementing title II) that the Board or the Commission determines— (i) relate to the preparation or issuance of audit reports for issuers; and (ii) are established or adopted by the Board under section 7213(a) of this title , or are promulgated as rules of the Commission.

Source

15 USC § 7201(10)

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Scoping language

None identified, default scope is assumed to be the parent (chapter 98) of this section.

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