What Auditing Standards Are Used to Conduct an Audit for a Privately-Held

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The Answer is Auditing standards developed by the AICPA's Auditing Standards Board (ASB)are used to conduct an audit for a privately-held corporation or other entities that are nonpublic companies. This includes the principles underlying an audit conducted in accordance with generally accepted auditing standards and the ASB's Statements on Auditing Standards (SAS).
Auditing standards developed by the Public Company Accounting Oversight Board (PCAOB)must be used to conduct an audit for a publicly-traded corporation. These standards include all those issued by the ASB through 2003, which were codified by the PCAOB, and any new standards issued by the PCAOB after that point.

What Auditing Standards Are Used to Conduct an Audit for a Privately-Held

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