What organization continues to set auditing standards for firms auditing private companies?
A)FASB.
B)GAO.
C)SEC.
D)AICPA.

Question

Quizplus · Accepted Answer

The AICPA (American Institute of Certified Public Accountants) continues to set auditing standards for firms auditing private companies through its Audit and Attest Standards, including the Statements on Auditing Standards (SAS). FASB (Financial Accounting Standards Board) sets accounting standards, GAO (Government Accountability Office) provides auditing and evaluation services for the federal government, and SEC (Securities and Exchange Commission) sets financial reporting and disclosure requirements for public companies.

What Organization Continues to Set Auditing Standards for Firms Auditing