Does a CPA have to be chacked by another CPA to satisfy SEC requirements?

This is a question for my business class. I am incredible confused by this question :/ I would generally assume it's false. However, i really do need help :(

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  • Sandy
    Lv 7
    8 years ago
    Favorite Answer

    If you mean whether a CPA firm must be audited by another CPA firm, no. But there's an agency called the PCAOB which checks the audit work of CPA firms to ensure that sufficient standard is being maintained. The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, accurate and independent audit reports.

    You can read more here:

    http://pcaobus.org/Pages/default.aspx

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