For Investors
"Did You Know?"
The PCAOB’s oversight of public company auditing firms includes responsibility for developing auditing standards, performing inspections of registered firms, and enforcement authority related to the rules of the PCAOB and the SEC.(February 20)
The audit process follows PCAOB auditing standards, which the external auditor applies with judgment and experience to the accounting and auditing issues particular to an audit.(February 14)
An independent auditor conducts a risk assessment to determine whether complex transactions, weak internal controls over financial reporting, or industry-wide issues, among other things, could lead to a risk of material misstatement in the financial statements.(February 6)
Audit firms must have internal quality control programs that include policies that require their professionals to exercise objectivity, professional skepticism, integrity and independence.(January 30)
An audit team is made up of certified public accountants and other professionals with the particular skills and knowledge required to conduct the particular audit.(January 24)
Investor Education Resources
A number of prominent organizations sponsor financial literacy campaigns to promote investor awareness of the importance of our capital markets, explain the roles and responsibilities of market participants, and to help individuals make wise investment decisions. More information and links to these campaigns can be found below.
Securities and Exchange Commission
The SEC's Office of Investor Education and Advocacy is dedicated to serving the needs of individual investors. It provides unbiased information on investment choices and on protecting investors from securities fraud or abuse. Investor.gov is the SEC’s website devoted exclusively to investor education, providing investors with in-depth information and "top tips" on how to invest wisely, plan for the future, and avoid being scammed.
Federal Reserve Education
The Federal Reserve, which serves as the nation's central bank, consists of a seven member Board of Governors and twelve Reserve Banks located in major cities throughout the United States. The Fed offers resources to investors, teachers and students on consumer finance, investor protection and the U.S. banking system.
Public Company Accounting Oversight Board
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. The PCAOB also oversees the audits of broker-dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection.
Financial Industry Regulatory Authority
FINRA is the largest independent regulator for all securities firms doing business in the United States. FINRA’s mission is to protect investors by maintaining the fairness of the U.S. capital markets. FINRA offers articles, interactive tools, alerts and other resources that help investors learn more about investing, how to build their financial knowledge and protect themselves.
