The Sarbanes-Oxley Act of 2002 established a Public Company Accounting Oversight Board (PCAOB),overseen by the SEC,to supervise accounting firms and ensure that audits are independent and controlled for quality.

Question

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This is a true statement. The Sarbanes-Oxley Act did establish the PCAOB, which is overseen by the SEC and is responsible for supervising accounting firms and ensuring audit quality and independence.

The Sarbanes-Oxley Act of 2002 Established a Public Company Accounting