Which of the following statements regarding the Public Company Accounting Oversight Board $($PCAOB$)$ is correct?

Multiple Choice

The PCAOB is a private, nonprofit organization established in $1933.$

The PCAOB reports the results of disciplinary proceedings to the SEC to sanction registered CPA firms not passing inspection.

Public accounting firms must register with the PCAOB before performing audits of public companies.

Three of the five board members of the PCAOB must be CPAs.