Registered accounting firms that audit more than 100 public companies annually are subject to inspection and review by the Public Company Accounting Oversight Board (PCAOB) once a year.

Question

Quizplus · Accepted Answer

This statement is true. The Sarbanes-Oxley Act of 2002 established the PCAOB to oversee the auditing of public companies in the United States. Registered accounting firms that audit more than 100 public companies annually are subject to annual inspection and review by the PCAOB.

Registered Accounting Firms That Audit More Than 100 Public Companies