Response to the following questions:
1. What were the most significant components of the Private Securities Litigation Reform Act of 1995 and the Securities Litigation Uniform Standards Act of 1998? Did the ruling in Tellabs v. Makor make it easier or harder to hold auditors liable for fraud? Why?
2. In what ways does the Sarbanes-Oxley Act change criminal liability for auditors of public companies?
If possible, please give examples to better understand your answers.