Do you think that the creation and work of the Public Company Accounting Oversight Board (PCAOB) has resulted in greater independence of auditors of public companies?

July 26, 2016 by joyce

Do you think that the creation and work of the Public Company Accounting Oversight Board (PCAOB) has resulted in greater independence of auditors of public companies?
If auditing of financial statements is required primarily for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements?
What regulatory compliance requirements apply to various business situations?