The Public Company Accounting Oversight Board (PCAOB) is a nonprofit organization established by the Sarbanes-Oxley Act of 2002. Its primary purpose is to oversee the audits of public companies to ensure that they are conducted in accordance with established standards. This oversight helps to protect investors and maintain the integrity of the financial markets. The PCAOB sets auditing standards, inspects audit firms, and enforces compliance with its rules. By doing so, it aims to enhance the quality of audits and promote transparency in financial reporting. This is crucial for building trust between companies and their investors.