The organization that will continue to set auditing standards for firms auditing private companies is the

Question

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The American Institute of Certified Public Accountants (AICPA) will continue to set auditing standards for firms auditing private companies. This is because the Public Company Accounting Oversight Board (PCAOB), which was created by the Sarbanes-Oxley Act to oversee the audits of public companies, does not have jurisdiction over private companies.

The Organization That Will Continue to Set Auditing Standards for Firms