This preview shows page 1. Sign up to view the full content.
Unformatted text preview: investors. In addition, the SEC has power to establish rules for any CPA associated with audited financial statements submitted to the Commission. 2-7 The PCAOB has responsibility for establishing auditing standards for public companies, while the Auditing Standards Board (ASB) of the AICPA establishes auditing standards for private companies. The ASB previously had responsibility for establishing auditing standards for both public and private companies. Existing auditing standards were adopted by the PCAOB as interim auditing standards for public company audits. Multiple Choice Questions From CPA Examinations 2-16 a. (1) b. (2) c. (3) d. (3) Discussion Questions And Problems 2-22 a. International auditing standards. b. PCAOB auditing standards. c. PCAOB auditing standards (reporting in the U.K. will be under international auditing standards). d. Generally accepted auditing standards. e. International auditing standards. f. PCAOB auditing standards (due to the publicly-traded debt)....
View Full Document
This note was uploaded on 02/19/2012 for the course ACCOUNTING 320 taught by Professor Rich during the Fall '12 term at Columbia College.
- Fall '12