Which of the Following Is Not True with Respect to the Responsibilities

question 79

Multiple Choice

Which of the following is not true with respect to the responsibilities for establishing generally accepted auditing standards?

• A)Auditing standards for both public and private entities must be formally approved by the Securities and Exchange Commission.
• B)Interpretive publications are issued by the AICPA to provide guidance on the application of generally accepted auditing standards in specific circumstances.
• C)The PCAOB is the body with formal authority for the creation of auditing standards for the audits of public entities.
• D)If specific guidance is not provided by PCAOB Auditing Standards,auditors may refer to Statements on Auditing Standards that have not been amended or superseded.

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Definitions:

Transformational Leadership Model

A leadership approach that causes change in individuals and social systems, emphasizing vision, inspiration, challenge, and personal development.

Inspirational Motivation

The aspect of leadership that involves inspiring and motivating followers to achieve higher levels of performance through a compelling vision of the future.

Idealized Influence

A leadership approach where leaders become role models by acting in ways that inspire and earn the trust and respect of followers.

Transactional Leaders

Leaders who focus on supervision, organization, and performance; they are concerned with transactions between themselves and their followers.