Public Company Accounting Oversight Board (PCAOB)

1. A regulatory body created pursuant to the Sarbanes-Oxley Act of 2002. The PCAOB establishes auditing and related professional practice standards to be used in the preparation and issuance of audit reports for "issuers." A board, established by the U.S. Sarbanes-Oxley Act of 2002, which regulates the auditing profession and sets standards for audits of public companies.