Currently, the has responsibility for establishing auditing standards for U.S. public companies, while the establishes auditing standards for U.S. private companies. Prior to the creation of the PCAOB, the had responsibility for establishing auditing standards for both public and private companies. Who is responsible for establishing auditing standards for audits of U.S. public companies? Who is responsible for establishing auditing standards for U.S. private companies? Explain. Currently, the has responsibility for establishing auditing standards for U.S. public companies, while the establishes auditing standards for U.S. private companies. Pl JB, the had responsibility for establishing auditing standards for both public and private companies. Currently, the has responsibility for establishing auditing standards for U.S. public companies, while the establishes auditing standards for U.S. private companies. Prior to the creation of the PCAOB, the had responsibility for establishing auditing standards for both pu