Congress replaced the __________ industry's self-regulation of auditing with a new federal agency called the Public Company Accounting Oversight Board.

Question

Quizplus · Accepted Answer

The correct answer is the accounting industry. Congress established the Public Company Accounting Oversight Board (PCAOB) to oversee the audits of public companies, in response to accounting scandals and to protect the interests of investors by promoting accurate and independent audit reports.

Congress Replaced the __________ Industry's Self-Regulation of Auditing with a New