TITLE I--PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD
第一部分　公众公司会计监管委员会

Sec. 101 Establishment; administrative provisions
组建、管理条款

The Public Company Accounting Oversight Board (The Board) is established as an independent (nonfederal) non-profit corporation. It shall oversee the audit of public companies that are subject to the securities laws, and related matters, in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports for companies the securities of which are sold to, and held by and for, public investors.
上市公司会计监管委员会（简称"委员会"）是独立的（非联邦的）非盈利性社团法人。其职责是对受相关证券法规监管的上市公司和相关事项的审计进行监督，以便保护投资者的利益，并且促使公众关注那些为向公众发售股票、被公众持有股票或替公众持有股票的公司而编制的有用的、准确的和独立的审计报告。 The Board shall have five members, appointed from among prominent individuals of integrity and reputation who have a demonstrated commitment to the interests of investors and the public, and an understanding of the responsibilities for and nature of the financial disclosures required of issuers under the securities laws and the obligations of accountants with respect to the preparation and issuance of audit reports with respect to such disclosures.
委员会应由5人组成。成员应当由诚实而有声望的杰出人士组成。……

Two members, and only two members, of the Board shall be or have been certified public accountants. If one of those two members is the chairperson, he or she may not have been a practicing certified public accountant for at least five years prior to his or her appointment to the Board.
委员会中的两人而且只有两人应当是或已经是的注册会计师。如果两人中的一人又是委员会主席，他必须在上任之前的五年内没有从事注册会计师工作。

The Board shall:
●　Register public accounting firms that prepare audit reports for issuers.
●　Establish or adopt, or both, by rule, auditing, quality control, ethics, independence, and other standards relating to the preparation of audit reports for issuers.
●　Conduct inspections of registered public accounting firms.
●　Conduct investigations and disciplinary proceedings concerning, and impose appropriate sanctions where justified upon, registered public accounting firms and associated persons of such firms.
●　Perform such other duties or functions as the Board determines are necessary or appropriate to promote high professional standards among, and improve the quality of audit services offered by, registered public accounting firms and associated persons thereof, or otherwise to carry out this Act, in order to protect investors, or to further the public interest.
●　Enforce compliance with this Act, the rules of the Board, professional standards, and the securities laws relating to the preparation and issuance of audit reports and the obligations and liabilities of accountants with respect thereto, by registered public accounting firms and associated persons thereof.
●　Set the budget and manage the operations of the Board and the staff of the Board.
委员会应当：
●　对编制审计报告的注册会计师事务所进行备案登记；
●　根据规则，建立和/或采纳与编制审计报告相关的审计、质量控制、职业道德、独立性和其他标准；
●　对备案登记的注册会计师事务所的实施检查；
●　对备案登记的注册会计师事务所及其从业人员进行调查和执业操守听证，如果证实必要，进行适当的处罚；
●　履行委员会认为必要的或适当的能够促使备案登记的注册会计师事务所及其从业人员建立较高的职业标准和审计服务质量的职能，或者根据本法案采取保护投资者利益，或促进公众利益的行动。
●　要求备案登记的注册会计师事务所及其从业人员必须遵守本法案、委员会的规则、专业标准和相关的证券法规中与编制和发布审计报告有关的内容，以及会计师的相应的义务与责任；
●　制订预算，并对委员会及其成员进行管理。