Which of the statement regarding PCAOB is NOT true?
A)PCAOB stands for Public Company Accounting Oversight Board.
B)PCAOB assumes the peer review function over registered CPA firms.
C)PCAOB was established before the accounting scandal of Enron.
D)PCAOB protects the public interest by oversight of independent audits.

Question

Quizplus · Accepted Answer

PCAOB was established as a result of the accounting scandals like Enron, WorldCom, and Tyco in 2002 under the Sarbanes-Oxley Act. Therefore, the statement "PCAOB was established before the accounting scandal of Enron" is not true.

Which of the Statement Regarding PCAOB Is NOT True