Thursday, July 29, 2010

What is the PCAOB?

What does PCAOB stand for?

PCAOB stands for the Public Company Accounting Oversight Board. The PCAOB is located in the USA and is a private, non-profit corporation created by the Sarbanes-Oxley Act of 2002.

Its main purpose is to oversee the auditors of public companies and ensure that they are following the correct standards. The PCAOB Board consists of five members who are appointed by the Securities and Exchange Commission on a specified basis.

The main goals of the PCAOB was  to protect investors and the public interest by promoting informative, fair, and independent audit reports.

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The information on this site is for informational purposes only and should not be used as a substitute for the professional advice of an accountant, tax advisor, attorney, or other professional.