In order to protect the investor’s interest, government has established several bodies and boards which have their separate responsibilities. These boards are PCAOB, SEC, etc. Public Company Accounting Oversight Board (PCAOB) is a nonprofit organization. It was created in the provision of Sarbanes and Oxley Act, 2002. PCAOB was formed to monitor the public company’s activities in order to protect the interest of shareholders. PCAOB regulates the financial reporting of the public companies and it is responsible for issuing the auditing standards and guidelines for audit of public companies. To choose: The statement that best describes the unqualified audit opinion.

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Chapter 2, Problem 2.21MCQ

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In order to protect the investor’s interest, government has established several bodies and boards which have their separate responsibilities. These boards are PCAOB, SEC, etc. Public Company Accounting Oversight Board (PCAOB) is a nonprofit organization. It was created in the provision of Sarbanes and Oxley Act, 2002. PCAOB was formed to monitor the public company’s activities in order to protect the interest of shareholders. PCAOB regulates the financial reporting of the public companies and it is responsible for issuing the auditing standards and guidelines for audit of public companies.

To choose: The statement that best describes the unqualified audit opinion.

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