Which organization is responsible for setting auditing standards and oversees the audits of public companies in the United States?
A)Financial Accounting Standards Board
B)Public Company Accounting Oversight Board
C)American Institute of Certified Public Accountants
D)Securities Exchange Commission

Question

Quizplus · Accepted Answer

The Public Company Accounting Oversight Board (PCAOB) is responsible for setting auditing standards and overseeing the audits of public companies in the United States. The other options listed, while important in accounting and financial reporting, do not have the specific authority over public company audits as the PCAOB does.

Which Organization Is Responsible for Setting Auditing Standards and Oversees