PCAOB
The Public Company Accounting Oversight Board (PCAOB) is a U.S. regulatory body that oversees the audits of public companies. Its primary goal is to protect investors and the public by ensuring that company financial statements are accurate and reliable. PCAOB sets auditing standards, inspects audit firms, and can discipline those firms if they don't comply with its regulations.
Established by the Sarbanes-Oxley Act of 2002, PCAOB plays a key role in maintaining the integrity of the financial reporting system. By keeping auditors in check, it promotes transparency and trust in the capital markets. So, if a company’s books are off, PCAOB is there to catch it and make sure everyone stays on track!
By CA L.Muralidharan and CPA L.Mukundan
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