Which of the Statement Regarding PCAOB Is NOT True

question 52

Multiple Choice

Which of the statement regarding PCAOB is NOT true?

• A)PCAOB stands for Public Company Accounting Oversight Board.
• B)PCAOB assumes the peer review function over registered CPA firms.
• C)PCAOB was established before the accounting scandal of Enron.
• D)PCAOB protects the public interest by oversight of independent audits.

---

Definitions:

Convenience

The quality or condition of being easy to do, use, or access, often improving efficiency or comfort.

Devitalized

Lacking in energy, vitality, or life force; often used to describe a deteriorated condition.

Rite of Passage

A ceremonial event or ritual that marks a person's transition from one status to another, often associated with cultural or religious practices.

Frivolities

Trivial or unserious activities or behaviors that may be considered time-wasting or lacking in seriousness or importance.