Question: The Public Company Accounting Oversight Board (PCAOB) was created as a result of the Sarbanes-Oxley Act. It has oversight and enforcement responsibilities over accounting firms in the United States.
Instructions: Answer the following questions.
(a) What is the mission of the PCAOB?
(b) Briefly summarize its responsibilities related to inspections.
(c) Briefly summarize its responsibilities related to enforcement.