The Public Company Accounting Oversight Board

The Sarbanes-Oxley Act created the Public Company Accounting Oversight plug-in (PCAOB) to stand 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 promote the domain interests in the preparation of informative, fair, and independent analyze reports?. (The PCAOB) Although the PCAOB is a private sector organization, it has many government-like regulatory functions. The PCAOB was created in chemical reaction to an increasing number of accounting system restatements by general companies during the nineties and a series of recent high-profile scandals like Enron and WorldCom. forward to the PCAOB, the study 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 chairperson. entirely members are appointed by the Securities and Exchange Commission and overspread a five year term. Two members of the PCAOB must be or throw off been a certified public accountant. However, if the electric 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 examine reports for public companies. The PCAOB sets audit! ing, quality control, ethics, independence and other standards relating to the preparation of audit reports. They conduce inspections of registered public accounting firms. They also conduct investigations and disciplinal 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 charter a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper