Given the requirement of the Sarbanes-Oxley Act of 2002 (SOX),the Public Company Accounting Oversight Board (PCAOB)established the Securities and Exchange Commission (SEC)to provide independent oversight of public accounting firms.

Question

Quizplus · Accepted Answer

The statement incorrectly states that the SEC was established by the PCAOB. The SEC existed prior to the passing of SOX and was given increased authority and oversight responsibilities under the act. The PCAOB was established by SOX and is responsible for overseeing auditors of public companies.

Given the Requirement of the Sarbanes-Oxley Act of 2002 (SOX),the