The Public Company Accounting Oversight Board oversees the work of auditors of public companies.

Question

Quizplus · Accepted Answer

The statement is true. The Public Company Accounting Oversight Board (PCAOB) is a regulatory body that oversees the audit of public companies. It was established by the Sarbanes-Oxley Act of 2002 in response to accounting scandals at several large corporations such as Enron and WorldCom. The PCAOB sets auditing standards, conducts inspections of accounting firms, and enforces rules that protect the interests of investors and the public.

The Public Company Accounting Oversight Board Oversees the Work of Auditors