What does the PCAOB stand for?

The correct answer is "Public Company Accounting Oversight Board." This organization, known as PCAOB, was established by the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports. The PCAOB sets auditing standards and inspects accounting firms that audit public companies, ensuring compliance with relevant laws and regulations. Understanding the role and responsibilities of the PCAOB is crucial for comprehending the regulatory environment surrounding financial reporting and auditing practices in publicly traded companies. The other options suggest different names for similar entities but do not correctly define the specific organization responsible for overseeing public company audits.