Corporate Governance
The Public Company Accounting Oversight Board (PCAOB) is a nonprofit corporation established by the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies. The PCAOB plays a crucial role in enhancing the reliability and transparency of financial reporting, which is essential for restoring investor confidence and improving corporate governance practices. Its establishment marked a significant shift in the regulatory landscape, addressing prior gaps in oversight that contributed to accounting scandals.
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