The PCAOB was established in response to the accounting scandals that occurred in 2001 and 2002.

Question

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The PCAOB (Public Company Accounting Oversight Board) was created by the Sarbanes-Oxley Act of 2002, which was enacted in response to the accounting scandals involving Enron, WorldCom, and other companies in the early 2000s. The PCAOB's role is to oversee the audits of public companies to promote investor protection and enhance the reliability of financial reporting.

The PCAOB Was Established in Response to the Accounting Scandals