30.03.2023 - 16:44

In auditing a privately held entity, an auditor must follow the professional standards established by all of the following except: A. The AICPA’s Auditing Standards Board B. The Professional Code of Conduct C. The Independence Standards Board D. The P

Question:

In auditing a privately held entity, an auditor must follow the professional standards established by all of the following except:

A. The AICPA’s Auditing Standards Board

B. The Professional Code of Conduct

C. The Independence Standards Board

D. The PCAOB13

Answers (1)
  • Minnie
    April 15, 2023 в 19:10
    The correct answer is D. The PCAOB (Public Company Accounting Oversight Board) establishes auditing standards for publicly traded companies, not privately held entities. Privately held entities are subject to the professional standards established by the AICPA (American Institute of Certified Public Accountants) Auditing Standards Board, the Professional Code of Conduct, and the Independence Standards Board. These standards are designed to ensure that auditors maintain objectivity, integrity, and independence when conducting audits of privately held entities.
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