The Public Company Accounting Oversight Board

The Sarbanes-Oxley Act created the Public Company Accounting Oversight plug-in (PCAOB) to buy up the responsibility of overseeing the scrutiniseors of commonplace companies. The PCAOB is a private-sector, non-profit corporation. It was established to ? value the interests of investors and tho the domain interests in the preparation of informative, fair, and independent examine reports?. (The PCAOB) Although the PCAOB is a private sector organization, it has many government-like regulatory functions. The PCAOB was created in retort to an increasing number of be restatements by customary companies during the mid-nineties and a series of recent high-profile scandals like Enron and WorldCom. forward to the PCAOB, the scrutinise industry was self-regulated through the Public Oversight board of the AIcertified public accountant, but with the recent scandals and restatements something had to be changed. The PCAOB consists of five members, of which one of them is the chairp erson. completely members are appointed by the Securities and Exchange Commission and consider a five year term. Two members of the PCAOB must be or pull in been a certified public accountant. However, if the electric automobile chair is one of the CPAs, they may not have been a practicing CPA for at least five years. The organization has a round of over 500 and its headquarters is in chapiter D.C. The PCAOB has been inclined many functions and responsibilities under section 101 of the Sarbanes-Oxley Act.

They have the king to register public accounting firms that prepare audit reports for public co mpanies. The PCAOB sets auditing, quality c! ontrol, ethics, independence and other standards relating to the preparation of audit reports. They conduce inspections of registered public accounting firms. They also conduct investigations and disciplinal minutes concerning violations of rules and impose appropriate sanctions where needed against public accounting firms. The PCAOB has the power to perform other duties or functions that... If you want to dumbfound a full essay, order it on our website: OrderCustomPaper.com

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