Which of the following is a responsibility of the PCAOB?
A)To set financial reporting standards for public companies.
B)To set financial reporting standards for private companies.
C)To set audit standards for public companies.
D)To set audit standards for private companies.

Question

Quizplus · Accepted Answer

The PCAOB (Public Company Accounting Oversight Board) is responsible for setting audit standards and overseeing the audits of public companies. They do not set financial reporting standards for either public or private companies. They only have authority over auditors of public companies, not private companies.

Which of the Following Is a Responsibility of the PCAOB