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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 22
AICPA and PCAOB Responsibilities. The creation of the PCAOB by the Sarbanes-Oxley Act has impacted both the standards-setting process and the periodic review of the quality of an audit firm's work.
Required:
a. Identify the responsibilities of the AICPA, PCAOB, and SEC in the auditing standards-setting process.
b. Which standard(s) provide guidance for the audits of public entities? Which standard(s) provide guidance for the audits of nonpublic entities?
c. What role do the AICPA and PCAOB play in the periodic review of the quality of audit firms' work?
Required:
a. Identify the responsibilities of the AICPA, PCAOB, and SEC in the auditing standards-setting process.
b. Which standard(s) provide guidance for the audits of public entities? Which standard(s) provide guidance for the audits of nonpublic entities?
c. What role do the AICPA and PCAOB play in the periodic review of the quality of audit firms' work?
Explanation
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(a) The PCAOB issues Auditing Standards,...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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