The Auditing Standards Board of the AICPA Has Undertaken a Clarity

question 65

Multiple Choice

The Auditing Standards Board of the AICPA has undertaken a Clarity and Convergence Project whose aim is to make GAAS easier to read, apply and converge with International Audit Standards. As a result the GAAS will become "Auditing Principles". The principles will be consistent with the three categories of GAAS. Accordingly, which of the following is true?
I The General Standards will be termed Responsibilities Principles.
II. The Fieldwork Standards will be termed Performance Principles.
III. The Reporting Standards will be termed Communication Principles.

• A) I and II
• B) I and III
• C) II and III
• D) I, II and III

---

Definitions:

Broca's Area

A region in the frontal lobe of the dominant hemisphere, usually the left, of the brain with functions linked to speech production.

Hypothalamus

A region of the brain that coordinates the autonomic nervous system and the activity of the pituitary, controlling body temperature, thirst, hunger, and other homeostatic systems.

Thalamus

A part of the brain located in the center of the cerebral hemisphere, which acts as a relay station for sensory information.

Epithalamus

A posterior segment of the diencephalon of the brain, involved in the regulation of sleep-wake cycles and the secretion of melatonin from the pineal gland.