March 31, 2008 The Public Company Accounting Oversight Board (PCAOB or Board) developed this Strategic Plan to guide the programs and operations of the organization in the coming years.Title I of the Sarbanes-Oxley Act of 2002 (Act) – the landmark legislation that created the PCAOB as the independent nonprofit overseer of the auditors of public companies – serves as the strategic blueprint for developing the PCAOB’s programs and operations. Notably, it is the Act itself that sets forth the PCAOB’s mission and identifies its core functions.The Act gives the PCAOB four primary responsibilities: registration of accounting firms that audit public companies trading in U.S. securities markets; inspections of registered public accounting firms; establishment of auditing and related attestation, quality control, ethics, and independence standards for registered public accounting firms; and investigation and discipline of registered public accounting firms and their associated persons for violations of specified laws or professional standards. See Full Document: |
