SUMMARY: The Public Company Accounting Oversight Board (PCAOB) turned seven years old in January 2010. Up until that date, it had spent more than three-quarters of a billion dollars of compulsory “fees” paid predominantly by larger public companies (issuers) to finance the specific mandate given it by the Sarbanes-Oxley Act of 2002.1 The authors were there from the beginning. We offer a Board-level perspective into the PCAOB’s key programs and policies.

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