If an Auditor of a Public Company Cannot Find Guidance

question 63

Multiple Choice

If an auditor of a public company cannot find guidance issued by the PCAOB on a particular audit matter, the auditor should generally seek guidance from which of the following sources?

• A)Statements on Auditing Standards
• B)Statements on Standards for Accounting and Review Services
• C)Regulations issued by the Securities and Exchange Commission
• D)The AICPA Code of Professional Conduct

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Definitions:

Lay Person

An individual without professional or specialized knowledge in a specific field.

Professional

relates to or is characteristic of a profession; engaging in an activity for gain or as a means of livelihood.

Program Activities

Structured events or tasks carried out within a designed program to achieve specific outcomes.

Education Group

A group setting focused on providing educational content, promoting learning, and facilitating knowledge acquisition among participants.