6. What are the functions of accounting oversight board?

Question

Question

Answer 1

Answer #1

The functions of accounting oversight board are as follow:

Accounting oversight board registers public accounting firms and provides oversight for auditors of public companies
It establishes standards related to auditing, quality control, independence, ethics and other standards for public company audits
As a disciplinary proceedings, it undertakes inspection of the quality controls at the regular interval at public accounting firms performing those audits

Answer 2

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