Which of the Following Is Not One of the Main

question 76

Multiple Choice

Which of the following is not one of the main sets of auditing standards around the world today?

• A) AICPA Auditing Standards
• B) International Standards on Auditing
• C) PCAOB Auditing Standards
• D) Securities and Exchange Commission Auditing Standards

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Definitions:

Private Corporation

A corporation that is created by private persons and does not have government duties.

Certificate of Incorporation

An official document issued by a state government recognizing the formation of a corporation and outlining its basic details.

Authorized to Conduct Business

The status granted to a company or individual that fulfills the regulatory requirements to legally operate in a particular jurisdiction.

De Facto Corporation

A company that operates like a corporation and may be treated as one for legal purposes, despite not having completed formal incorporation steps.