Which of the following does not relate to The Public Company Accounting Oversight Board (PCAOB)?
A)Two members of the board must be CPAs.
B)In addition to appointing the five members of the PCAOB,the SEC is responsible for the oversight and enforcement authority over the Board.
C)The PCAOB consists of five members appointed by the SEC.
D)The PCAOB is to adopt auditing standards.
E)The PCAOB is to adopt accounting standards.

Question

Quizplus · Accepted Answer

The PCAOB is responsible for adopting auditing standards, conducting inspections of accounting firms, and enforcing compliance with accounting and auditing standards. However, it does not have the authority to adopt accounting standards, which are the responsibility of the Financial Accounting Standards Board (FASB). Therefore, option E does not relate to the PCAOB.

Which of the Following Does Not Relate to the Public