What is the role of the Public Company Accounting Oversight Board (PCAOB)?

The Public Company Accounting Oversight Board (PCAOB) plays a crucial role in maintaining the integrity of financial reporting and auditing for public companies in the United States. Its primary function is to establish and enforce auditing standards and quality control standards for firms that audit public companies. This oversight ensures that firms adhere to specific guidelines, promoting accuracy and reliability in the financial statements that companies present to investors and the public.

By enforcing these standards, the PCAOB helps to bolster investor confidence and protect the interests of the public, which relies on the transparency and accuracy of financial reporting. Essentially, the PCAOB is integral to the regulatory framework that supports the auditing process, fostering an environment of accountability among auditors. The other options do not align with the PCAOB's mandate, as it does not prepare financial statements, oversee personal tax filings, or conduct audits for private entities.