It has been more than six years since the Public Company Accounting Oversight Board was created by the Sarbanes-Oxley Act, five years since the Securities and Exchange Commission declared the PCAOB operational, and four years since the PCAOB started its first inspections of registered public accounting firms. The PCAOB’s work, in combination with other changes in the capital markets, has significantly increased confidence in financial statement audits. And the PCAOB board members and staff have shown themselves to be capable, dedicated, and devoted to their important public policy role.
