Which of the following is $\underline{NOT}$ true regarding the PCAOB?
A)The PCAOB is a governmental sector regulatory body.
B)The PCAOB is overseen by the SEC.
C)The PCAOB was established by the Sarbanes-Oxley Act.
D)The PCAOB has authority to set auditing standards.

Question

Quizplus · Accepted Answer

The PCAOB is actually a private sector regulatory body that was established by the Sarbanes-Oxley Act in response to accounting scandals such as the Enron scandal. The PCAOB sets auditing standards and oversees audits of public companies and broker-dealers. While the SEC does oversee the PCAOB, it is not a governmental sector regulatory body as it is a private entity.

Which of the Following Is NOT‾\underline{NOT}NOT​ True Regarding the PCAOB? A)The PCAOB Is a Governmental Sector

Which of the Following Is $\underline{NOT}$ True Regarding the PCAOB?
A)The PCAOB Is a Governmental Sector