Which statement is false regarding the Public Company Accounting Oversight Board (PCAOB)?
A) Regulates audit standards and independent audit firms.
B) Has five members appointed by the SEC.
C) Allows all members to be accountants, past or present.
D) Is under the oversight and enforcement of the SEC.
E) Is funded by fees levied on all publicly traded companies.

Question

Quizplus · Accepted Answer

The PCAOB requires that only two of its five members be certified public accountants, ensuring diversity in its board composition.

Which Statement Is False Regarding the Public Company Accounting Oversight