The Sarbanes-Oxley Act created a powerful Accounting Oversight Board with authority to review and discipline auditors.

Question

Quizplus · Accepted Answer

This statement is true. The Sarbanes-Oxley Act of 2002 created the Public Company Accounting Oversight Board (PCAOB), which has the authority to oversee, regulate, inspect, and discipline accounting firms in order to protect investors and maintain public trust in the financial reporting process.

The Sarbanes-Oxley Act Created a Powerful Accounting Oversight Board with Authority