Asked by Victoria Matthews Medina on Jun 20, 2024
Verified
The Sarbanes-Oxley Act created the _____ to oversee the accounting firms that audit public corporations and to establish rules and standards for auditing.
A) Public Company Accounting Oversight Board
B) Corporate Accounting Oversight Commission
C) Consumer Financial Protection Bureau
D) Occupational Health and Safety Administration
E) Equal Employment Opportunity Commission
Sarbanes-Oxley Act
A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to securities laws.
Auditing
The systematic examination and evaluation of the financial statements of an organization to ensure that records are accurate and fair, performed by an internal or external auditor.
- Recognize significant legal provisions regulating business conduct and compliance expectations.
- Realize the significance of ethical compliance programs in preventing and detecting corporate misconduct.
Verified Answer
ML
Mikara LutchmanaJun 22, 2024
Final Answer :
A
Explanation :
The Sarbanes-Oxley Act created the Public Company Accounting Oversight Board (PCAOB) to oversee the accounting firms that audit public corporations and to establish rules and standards for auditing. The other options listed do not pertain to the oversight of public company accounting and auditing.
Learning Objectives
- Recognize significant legal provisions regulating business conduct and compliance expectations.
- Realize the significance of ethical compliance programs in preventing and detecting corporate misconduct.