The Sarbanes-Oxley Act set up the Public Company Accounting Oversight Board with the responsibility for all of the following except
A) auditing standards within companies.
B) controlling the quality of audits.
C) Certifying the competence of financial executives.
D) setting rules and standards for the independence of auditors.

Question

Quizplus · Accepted Answer

The Public Company Accounting Oversight Board is responsible for overseeing the audits of public companies, establishing audit standards, and enforcing compliance with these standards. However, it is not responsible for certifying the competence of financial executives. This responsibility falls on other organizations, such as professional associations or regulatory agencies.

The Sarbanes-Oxley Act Set Up the Public Company Accounting Oversight