Question

The authoritative body designed to promulgate standards concerning a CPA's association with audited financial statements of an entity that is required to file financial statements with the SEC is the:

Answer 1

Answer: Public Company Accounting Oversight Board

Step-by-step explanation:

Public Company Accounting Oversight Board is an organisation in the private sector created in 2002 by the Sabanes- Oxley act in order to supervise how public companies carry out their audit so as to safeguard the interest of the investors and ensure that accurate audit and report is carried out. This organization also supervise broker dealers.

The board members of the organization is chosen by the Securities and exchange commission although this is subject to consulting the chairman of the Board of Governors of the federal Reserve system as well as Treasury Secretary. Members of this board serves a 5 year tenure term.