Which of the following is not a primary responsibility of the PCAOB regarding public companies in the U.S.?
A)Issuing CPA licenses to auditors who perform audits of public companies.
B)Registering audit firms that audit public companies.
C)Periodically inspecting registered audit firms.
D)Investigating and disciplining registered audit firms for violations of relevant laws and professional standards.

Question

Quizplus · Accepted Answer

Issuing CPA licenses is not a primary responsibility of the PCAOB, as it is not directly related to regulating and overseeing auditors of public companies. This responsibility lies with state boards of accountancy. The other options (B, C, and D) are all primary responsibilities of the PCAOB.

Which of the Following Is Not a Primary Responsibility of the PCAOB