The Standards of the PCAOB Can Be Broken Up into Three

question 21

Multiple Choice

The Standards of the PCAOB can be broken up into three categories,i.e.,general,fieldwork,and reporting.Which of the following is considered in the fieldwork standards?

• A)Independence.
• B)GAAP.
• C)Internal control.
• D)Disclosure.

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Definitions:

Federally Chartered Banks

Banks that are authorized to operate by the federal government rather than by state governments, often subject to different regulations and oversight.

Federal Reserve System

The central banking system of the United States, responsible for monetary policy, regulation of financial institutions, and maintaining financial stability.

Required to Join

This term seems vague without context and might not be a defined economic or general key term without additional information; thus, clarification is needed.

Thrift Institution

A financial organization that primarily accepts savings deposits and provides mortgage and loan services.