Replies to post #31916 on Baristas Coffee Company, Inc. (BCCI)

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I'm still very unclear on the real role of PCOAB, even after going to their website. Understanding PCOAB gets very confusing when you try to go beyond a tag line like "oversee the audits of public companies" and try to understand the actual working of it.

What I do know is that there is only one standard that has any respect in the financial world and that is GAAP. CPA's will have their certification revoked for violating GAAP. And after putting in years & years & years and 1,000s of hours to be certified, no CPA wants to risk losing it. That's why CPA audited F/S have so much credibility.