A regulatory body in the United States that oversees
auditors and
auditing firms. The PCAOB has the authority to register and
regulate public accounting firms and to investigate them to ensure that they comply with applicable laws. The PCAOB consists of five members appointed by the
SEC, which oversees its activities. Only two members of the PCAOB may be current or former
CPAs. It is a private organization created by the U.S. government in the
Sarbanes-Oxley Act.