Part 2 Sarbanes -Oxley and PCAOB (25 points) 1. The PCAOB has been authorized to establish auditing standards to be followed on audits of companies whose stock is publically traded. Only two of the five standard setters are allowed to be CPAs. (I) Write a sentence IN FAVOR of the policy of allowing only two members of the Board to be CPAS (II) Write a sentence AGAINST the policy of allowing only two members of the Board to be CPAs 2. Answer the "true"-"false" questions shown below. 1. Two CPAs allowed on the Board: I. In favor II. Against