The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board (PCAOB).The PCAOB was established to
A)bring to justice public companies such as Enron and WorldCom for committing fraud
B)oversee the standards promulgated by the SEC related to public companies
C)protect the interests of investors by overseeing auditors of public companies
D)establish GAAP for use by public companies

Question

Quizplus · Accepted Answer

The PCAOB was established by the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies in order to protect the interests of investors. Its main mission is to improve the quality of audit services provided by public accounting firms, and its oversight includes registration and inspection of accounting firms, enforcing compliance with auditing and related professional practice standards, and imposing disciplinary actions for noncompliance.

The Sarbanes-Oxley Act of 2002 Established the Public Company Accounting