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by PCAOB Auditing Standards,auditors may refer to Statements on Auditing Standards that have not been amended or superseded.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:

Business Writers

Professionals specialized in creating various business documents, including reports, proposals, and memos.

Clarity

The quality of being clear, understandable, and free from ambiguity in communication or expression.

Equity

The concept of fairness and justice within the context of various aspects such as finance, law, and employment.

Bias-free Photographs

Images captured and selected in a manner that avoids unfair prejudices or stereotypes.