The Organization Responsible for Establishing Auditing Standards and Inspecting and Investigating

question 126

Multiple Choice

The organization responsible for establishing auditing standards and inspecting and investigating auditing practices of public accounting firms is

• A)Congress under the authority of the Sarbanes-Oxley Act (SOX).
• B)the American Institute of Certified Public Accountants (AICPA).
• C)the Securities and Exchange Commission (SEC).
• D)the Public Company Accounting Oversight Board (PCAOB).

---

Definitions:

High Power Distance

A cultural dimension that describes how people belonging to a specific culture perceive and handle inequalities in power within their social and organizational structures.

Cultural Mosaic

An individual’s unique mixture of multiple cultural identities, which yields a complex picture of the cultural influences on that person.

Cultural Identities

The sense of belonging to a group that shares similar systems of beliefs, values, and norms, which shape an individual's perceptions and behaviors.

Individualistic Culture

A culture that emphasizes personal achievements and independence over group goals and cohesiveness.