Due to various fraudulent business practices and accounting coverups in the early 2000's, Congress enacted the Sarbanes-Oxley Act of 2002. The Act was responsible for establishing a new oversight board for public accountants called the
A) Generally Accepted Accounting Practices for Public Accountants Board.
B) Public Company Accounting Oversight Board.
C) Congressional Accounting Oversight Board.
D) None are correct.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board (PCAOB), which acts as an oversight board for public accountants. Option A is incorrect as there is no such board named as Generally Accepted Accounting Practices for Public Accountants Board. Option C is incorrect as there is no such board called the Congressional Accounting Oversight Board. Option D is incorrect as there needs to be a correct option to choose from.

Due to Various Fraudulent Business Practices and Accounting Coverups in the Early