10. b. Auditors of US public companies should follow auditing standards issued by: (Select the correct answer.) a. American Institute of CPAS b. Securities and Exchange Commission C. Public Company Accounting Oversight Board d. American Accounting Association 11. Name the five assertions management makes in GAAP financial statements as set forth in PCAOB Auditing Standards? a. 1. b. 2. c. 3. d. 4. 5. 12. Which of the following is not one of the standards of field work? (Select the correct answer.) a. An audit is properly planned and supervised Auditors develop an understanding of the client's internal controls C. Auditors obtain sufficient appropriate audit evidence by performing audit procedures to provide a reasonable basis for the audit opinion being provided d. The audit is to be conducted with due professional care e. 13. The PCAOB has identified 5 specific types of client controls that the auditor should consider in evaluating whether or not an organization has sufficiently addressed fraud risk. Name at least 3 of those controls. 1. a