reply to the post with knowledge of SOX and SEC and Lincoln Savings and Loan company

reply to the post with knowledge of SOX and SEC and Lincoln Savings and Loan company.

Can you help me understand this Accounting question?

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Focus on the issue of auditor knowledge of the industry in which the client operates. Discuss the Lincoln Savings and Loan audit failure related to lack of industry knowledge. Consider whether there are any industries for which audits do not require particular industry expertise on the part of the audit partner. How does rotation of the audit partner (as required by SOX and the SEC) interact with the need for industry knowledge and risk of performing an audit?

sources to use:

can you use outside sources also

http://en.wikipedia.org/wiki/Charles_Keating

http://en.wikipedia.org/wiki/Savings_and_Loan_cris…

http://en.wikipedia.org/wiki/Keating_Five

reply to the post with knowledge of SOX and SEC and Lincoln Savings and Loan company