Unverified50% confidenceFactExact time
After the 1929 Wall Street crash, a U.S. congressional investigation found that audits at many companies were performed by accountants closely tied to management, allowing financial fraud to go undetected for long periods; this conflict of interest led to the Securities Act of 1933 and the Securities Exchange Act of 1934, which required listed companies to undergo audits by independent certified public accountants and established the SEC for oversight.
1
Sources
50%
Confidence
Long-term
Relevance
10/15/2026
First Seen
Sources
Related Entities
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