The Public Company Accounting Oversight Board

The Sarbanes-Oxley Act created the Public Company Accounting Oversight plug-in (PCAOB) to need 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 stool ahead the domain interests in the preparation of informative, fair, and independent canvas reports?. (The PCAOB) Although the PCAOB is a private sector organization, it has many government-like regulatory functions. The PCAOB was created in reaction to an increasing number of account restatements by national companies during the mid-nineties and a series of recent high-profile scandals like Enron and WorldCom. forward to the PCAOB, the inspect 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 th e chairperson. exclusively members are appointed by the Securities and Exchange Commission and dispense a five year term. Two members of the PCAOB must be or reach been a certified public accountant. However, if the voltaic 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 uppercase 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 audit reports for public companies. The PCAOB sets auditing, 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. T he PCAOB has the power to perform other duti! es or functions that... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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