Who appoints the members of the Public Accounting Oversight Board?
A)FASB
B)American Association of CPAs
C)Federal Trade Commission
D)Securities and Exchange Commission

Question

Quizplus · Accepted Answer

The Securities and Exchange Commission (SEC) appoints the members of the Public Accounting Oversight Board (PCAOB). PCAOB is responsible for overseeing the audits of public companies and brokerages in order to protect investors and the public interest. The other options listed do not have the authority to appoint members to PCAOB. The FASB sets accounting standards, the American Association of CPAs is a professional organization for accountants, and the Federal Trade Commission is a government agency responsible for promoting consumer protection and preventing anticompetitive business practices.

Who Appoints the Members of the Public Accounting Oversight Board