U.S.nonpublic companies will have an audit performed in accordance with generally accepted auditing standards that have been promulgated by the PCAOB.

Question

Quizplus · Accepted Answer

Nonpublic companies in the U.S. typically have audits performed in accordance with Generally Accepted Auditing Standards (GAAS) issued by the AICPA, not the PCAOB, which sets standards for public companies.

USnonpublic Companies Will Have an Audit Performed in Accordance with Generally