Who is responsible for establishing auditing standards for privately held companies?
A) Securities and Exchange Commission
B) Public Company Accounting Oversight Board
C) Auditing Standards Board
D) National Association of Accounting

Question

Quizplus · Accepted Answer

The Auditing Standards Board is responsible for establishing auditing standards for privately held companies. The Securities and Exchange Commission and the Public Company Accounting Oversight Board are responsible for publicly traded companies. The National Association of Accounting is not a regulatory body.

Who Is Responsible for Establishing Auditing Standards for Privately Held