According to the Act, public accounting firms that serve as external auditors are required to register with the PCAOB. Furthermore, the PCAOB is charged with developing auditing standards to be used by registered public accounting firms in their preparation and issuance of audit reports. In addition, the PCAOB conducts regular inspections of the registered public accounting firms to assess their degree of compliance with the Act and it has procedures to investigate and discipline firms that commit violations. Explain the responsibilities of the PCAOB, and its role in protecting the stakeholders with the Sarbanes Oxley act.