What Does Public Company Accounting Oversight Board Mean?

Free Business Insurance Quote Click Here
What does Public Company Accounting Oversight Board mean? Read on to discover the definition & meaning of the term Public Company Accounting Oversight Board - to help you better understand the language used in insurance policies.

Public Company Accounting Oversight Board

Public Company Accounting Oversight Board

A private-sector, non-profit corporation created as part of the Sarbanes-Oxley Act (SOx). The PCAOB developed in response to the auditing failures that were associated with several high-profile corporate bankruptcies in the early 2000s. Its purpose is to oversee the accounting firms that audit public corporations, in an effort to protect the interests of the investing public. The PCAOB consists of five members, including its chairman, each of whom the Securities and Exchange Commission (SEC) appoints. It conducts inspections of public accounting firms, develops auditing quality control standards, and conducts investigations and disciplinary proceedings.

We hope the you have a better understanding of the meaning of Public Company Accounting Oversight Board.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z


Free Business Insurance Quote Click Here