The Public Company Accounting Oversight Board (PCAOB)has the authority to establish standards dealing with auditing,quality control,ethics,independence,and other activities relating to the preparation of audited financial reports.

Question

Quizplus · Accepted Answer

The statement is true. The PCAOB was created by the Sarbanes-Oxley Act of 2002 to oversee the auditing of public companies in order to protect investors and maintain the integrity of the financial reporting process. As part of its oversight, the PCAOB has the authority to establish and enforce standards for auditors and audit firms.

The Public Company Accounting Oversight Board (PCAOB)has the Authority to Establish