In Proposed PCAOB Rule 4012, "Inspection of Foreign Registered Public

question 9

Multiple Choice

In proposed PCAOB Rule 4012, "Inspection of Foreign Registered Public Accounting Firms" issued for comment in December 2007, which of the following is NOT one of the broad principles upon which the board may place full reliance on the inspection program of qualified non-U.S. auditor oversight entities?

• A) Transparency of the oversight system
• B) Adequacy and integrity of the oversight system
• C) Rigidity of professional standards mandated by the oversight system
• D) Independence of the oversight system's source of funding

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Definitions:

Work Life

The aspect of a person's daily life that involves their professional or occupational activities, often balanced with personal life.

Lie

The act of communicating something that is not true, often with the intent to deceive.

Supply

The total amount of a product or service available for purchase at any given time and price in a market.

Prices

The amount of money expected, required, or given in payment for something.