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How does the Public Company Accounting Oversight Board (PCAOB) ensure compliance?

April 26, 2017Accounting COMPANY compliance ensure PCAOB public

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How does the Public Company Accounting Oversight Board (PCAOB) ensure compliance?

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In addition to its investigative powers, the PCAOB has the power to compel audit firms, and any person associated with an audit firm, to testify or produce documents. If a firm or individual refuses to comply with such a request, the PCAOB has the power to suspend or debar that firm or person from the public audit industry. If the PCAOB finds its own teeth are not big enough, it can turn to the Securities and Exchange Commission for help in obtaining subpoenas.