As an oversight board, the Public Company Accounting Oversight Board (PCAOB) was charged with maintaining compliance with established standards and enforcing rules and disciplinary procedures for those organizations that found themselves out of compliance.

Question

Quizplus · Accepted Answer

This statement is true. The PCAOB is responsible for overseeing audits of public companies in order to protect investors and maintain public trust in the financial reporting process. This includes setting and enforcing standards for auditors, as well as conducting inspections and investigations to ensure compliance with these standards. The PCAOB also has the authority to discipline firms and individuals who fail to meet these standards.

As an Oversight Board, the Public Company Accounting Oversight Board