The group responsible for registering public accounting firms that prepare audit reports for issuers; overseeing the audit of public companies; establishing audit report standards and rules; and inspecting, investigating, and enforcing compliance on the part of registered public accounting firms is the:

Question

Quizplus · Accepted Answer

The Public Company Accounting Oversight Board (PCAOB) is a private-sector, non-profit corporation created by the Sarbanes-Oxley Act of 2002. It is responsible for the oversight of the audits of public companies and other issuers, including establishing standards for audit reports and rules for auditors. The SEC oversees the PCAOB, but the board operates independently. The FTC (Federal Trade Commission) is responsible for consumer protection and preventing anti-competitive business practices. The American Institute of Certified Public Accountants (AICPA) is a professional organization for accountants and does not have regulatory authority over public accounting firms.

The Group Responsible for Registering Public Accounting Firms That Prepare