The Public Company Accounting Oversight Board

The Sarbanes-Oxley Act created the Public Company Accounting Oversight plug-in (PCAOB) to digest the responsibility of overseeing the scrutiniseors of commonplace companies. The PCAOB is a private-sector, non-profit corporation. It was established to ? value the interests of investors and gain ground the domain interests in the preparation of informative, fair, and independent analyse reports?. (The PCAOB) Although the PCAOB is a private sector organization, it has many government-like regulatory functions. The PCAOB was created in receipt to an increasing number of report restatements by reality companies during the mid-nineties and a series of recent high-profile scandals like Enron and WorldCom. forward to the PCAOB, the visit industry was self-regulated through the Public Oversight board of the AIcertified public accountant, but with the recent scandals and restatements something had to be changed. The PCAOB consists of five members, of which one of them is the c hairperson. all in all members are appointed by the Securities and Exchange Commission and dish up a five year term. Two members of the PCAOB must be or bewilder been a certified public accountant. However, if the electric car chair is one of the CPAs, they may not have been a practicing CPA for at least five years. The organization has a round of over 500 and its headquarters is in majuscule D.C. The PCAOB has been inclined many functions and responsibilities under section 101 of the Sarbanes-Oxley Act.

They have the king to register public accounting firms that prepare canvass reports for public companies. The PCAOB sets auditing, quality control, ethics, independence an d other standards relating to the preparatio! n of audit reports. They conduce inspections of registered public accounting firms. They also conduct investigations and corrective minutes concerning violations of rules and impose appropriate sanctions where needed against public accounting firms. The PCAOB has the power to perform other duties or functions that... If you want to shake up a full essay, order it on our website: OrderEssay.net

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