The role of the Public Company Accounting Oversight Board in the standard-setting process is to develop

Question

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The Public Company Accounting Oversight Board (PCAOB) develops Auditing Standards for the audits of public entities, which are known as PCAOB Auditing Standards. These standards are used by auditors of public companies to conduct their audits in accordance with PCAOB rules and regulations. The PCAOB does not develop standards for nonpublic or governmental entities or for audits of foreign entities.

The Role of the Public Company Accounting Oversight Board in the Standard-Setting