PCOAB is an organization; not a standard. This organization reviews the records and performance of CPAs that do work such as audits for publicly traded companies. While their standards may vary some from GAAP (I d not know for certain), they basically adhere to these standards. There is nothing else to it. It is basically a quasi-governmental organization that reviews the reviewers. If you examine their website, you will find out that there has been a considerable number of CPAs that have been reprimanded, et cetera. It happens in all professional organization, be in lawyer, medical doctors, et cetera. There are always some who due to laziness or crookedness fail to act ethically. Some even end up in jail.