Indicate whether you agree or disagree with the following statements concerning a financial statement audit conducted in accordance with generally accepted auditing standards.

Statement Agree$/$Disagree

A$.$ Public companies are ordinarily audited by a CPA firm, with engagement review by the General Accounting Office.

B$.$ Audits provide absolute assurance of detecting material misstatements and reasonable assurance of detecting immaterial misstatements.

C$.$ For audit purposes, professional skepticism includes a questioning mind and a critical assessment of audit evidence and should be maintained throughout the planning and performance of an audit.

D$.$ The Auditing Standards Board issues accounting principles for nonpublic company audits, while the Public Company Accounting Oversight Board issues accounting principles for public company audits.

E$.$ Auditors have a higher responsibility for detecting noncompliance with laws affecting financial statement amounts and disclosures than they do for other laws.

F$.$ When an auditing standard uses the word "should," this indicates that the auditor must in all cases follow it if the requirement is relevant to the company being audited.

G$.$ At one point, the Public Company Oversight Board adopted the AICPA auditing standards in existence as its interim auditing standards.

H$.$ International auditing standards are developed by the International Auditing and Assurance Standards Board.