Final answer:
The statement is true. The Sarbanes-Oxley Act of 2002 established an independent board to oversee public company audits.
Step-by-step explanation:
The statement is true. Under the Sarbanes-Oxley Act of 2002, section on Auditor Independence established the Public Company Accounting Oversight Board (PCAOB), an independent board responsible for overseeing public company audits.