Final answer:
The Public Company Accounting Oversight Board (PCAOB) has rule-making authority regarding quality control, ethics, and auditing standards.
Step-by-step explanation:
The statement is true. The Public Company Accounting Oversight Board (PCAOB) is a regulatory body established by the Sarbanes-Oxley Act of 2002. The PCAOB has been given rule-making authority to establish and enforce quality control, ethics, and auditing standards for registered public accounting firms that audit publicly traded companies in the United States.