Which of the following is true with respect to the PCAOB inspection process?
A) All firms performing audits of issuers are inspected every year.
B) PCAOB inspections are conducted by partners of other CPA firms.
C) PCAOB inspection teams review a sample of audit engagements conducted by the firm as well as the firm's system of quality control.
D) Deficiencies from sample audit engagements reviewed by the inspection team and deficiencies in the firm's system of quality control are publicly disclosed on the PCAOB's website.
Correct Answer:
Verified
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