Multiple Choice Questions
1. The GAO is responsible for all of the following except:
a. Developing standards for audits of federal agencies.
b. Developing standards for audits of state agencies.
c. Performing special investigations at the request of Congress.
d. Developing standards for external audits of public companies.
2. The AICPA is a private governing organization of the public accounting profession that does all of the following except
a. Perform quality peer reviews of companies performing audits.
b. Issue auditing standards dictating acceptable auditing practice for financial audits of public companies in the United States.
c. Establish standards for attestation services other than audits.
d. Prepare and grade the Uniform CPA Examination.
3. All of the following are true of the PCAOB except:
a. No more than two of its members can be a CPA.
b. It sets auditing standards for all CPAs engaged in the practice of auditing throughout the United States.
c. It sets standards for the audits of internal control of public companies.
d. It is responsible for quality reviews of all CPA firms that audit public companies.