The PCAOB has limited autonomy of practice in the accounting profession as it was created to oversee and regulate accounting firms that audit public companies. PCAOB sets auditing standards, inspects and disciplines firms, making them less autonomous in their practice.

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The PCAOB Has

Question 15

Multiple Choice

The PCAOB has:

A) Eliminated autonomy of practice in the accounting profession.
B) Limited autonomy of practice in the accounting profession.
C) Had no effect on autonomy of practice in the accounting profession.
D) Worked with FASB to enhance autonomy of practice in the accounting profession.

Correct Answer: