The authoritative body designed to promulgate standards concerning an accountant's association with audited financial statements of an entity that is required to file financial statements with the SEC is the
A) Financial Accounting Standards Board.
B) General Accounting Office.
C) Public Company Accounting Oversight Board.
D) Auditing Standards Board.

Question

Quizplus · Accepted Answer

The Public Company Accounting Oversight Board is the only authoritative body specifically designed to promulgate standards for auditors of companies required to file financial statements with the SEC. The Financial Accounting Standards Board sets accounting standards, the General Accounting Office serves as an auditing and evaluation arm of Congress, and the Auditing Standards Board sets auditing standards for private companies.

The Authoritative Body Designed to Promulgate Standards Concerning an Accountant's