About the PCAOB


The PCAOB is a nonprofit corporation established by Congress 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 also oversees the audits of brokers and dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection.

The Sarbanes-Oxley Act of 2002, which created the PCAOB, required that auditors of U.S. public companies be subject to external and independent oversight for the first time in history. Previously, the profession was self-regulated.

The five members of the PCAOB Board, including the chairman, are appointed to staggered five-year terms by the Securities and Exchange Commission, after consultation with the chair of the Board of Governors of the Federal Reserve System and the secretary of the Treasury. 

The SEC has oversight authority over the PCAOB, including the approval of the Board's rules, standards, and budget.  

The Sarbanes-Oxley Act was amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. The Act established funding for PCAOB activities, primarily through annual accounting support fees. These fees are assessed on public companies, based on their relative average monthly market capitalization, and on broker-dealers, based on their relative average quarterly tentative net capital.

Mission, Vision, and Values

The Board

Senior Staff

Advisory Groups


Internal Oversight