All accounting firms that audit publicly traded companies must register with the ________ and follow its rules.

Question

Quizplus · Accepted Answer

The Public Company Accounting Oversight Board (PCAOB) is a non-profit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest. All accounting firms that audit publicly traded companies are required to register with the PCAOB and follow its rules. The American Institute of Certified Public Accountants (AICPA) is a professional organization for accountants, but it does not have regulatory authority over auditing firms. The United States Congress and Internal Revenue Service (IRS) also do not have direct oversight over auditing firms.

All Accounting Firms That Audit Publicly Traded Companies Must Register