The Sarbanes-Oxley Act of 2002 required a new independent board called the Public Company Accounting Oversight Board to be formed to oversee the auditing profession and the audits of public companies.

Question

Quizplus · Accepted Answer

This is a true statement. The Sarbanes-Oxley Act did indeed require the creation of the Public Company Accounting Oversight Board (PCAOB) to oversee the accounting profession and public company audits.

The Sarbanes-Oxley Act of 2002 Required a New Independent Board