The PCAOB provides the criteria against which the auditor measures the fairness of financial statement presentation.

Question

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The PCAOB (Public Company Accounting Oversight Board) establishes auditing and related professional practice standards for registered public accounting firms to follow in the preparation and issuance of audit reports. The criteria against which the auditor measures the fairness of financial statement presentation are primarily the applicable financial reporting framework (such as GAAP in the United States).

The PCAOB Provides the Criteria Against Which the Auditor Measures