Currently, there is a significant overlap between the rules of the PCAOB and the
A) financial accounting standards board
B) statements on auditing standards
C) internal revenue service
D) financial information regulation organization
E) statements on financial information systems

Question

Quizplus · Accepted Answer

The PCAOB (Public Company Accounting Oversight Board) and the Statements on Auditing Standards both focus on auditing practices and standards, which is why there is a significant overlap between their rules. The PCAOB oversees the audits of public companies to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports. The Statements on Auditing Standards, issued by the AICPA's Auditing Standards Board, also provide guidelines for auditing practices, making them closely aligned with the PCAOB's objectives.

Currently, There Is a Significant Overlap Between the Rules of the PCAOB