Which of the following bodies oversees audits and auditors, and sanctions ﬁrms and individuals for violations of laws and regulations?

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The Public Company Accounting Oversight Board (PCAOB) oversees audits and auditors for public companies, and has the authority to sanction firms and individuals for violations of laws and regulations. The American Institute of Certified Public Accountants (AICPA) is a professional organization for accountants, while the American Accounting Association (AAA) is a scholarly organization for accounting academics. The Financial Accounting Standards Board (FASB) and Accounting Principles Board (APB) develop accounting standards and guidance, but do not have oversight or sanctioning authority.

Which of the Following Bodies Oversees Audits and Auditors, and Sanctions