Prior to the Sarbanes$-$Oxley Act of $2002,$ the $q,$ was responsible for creating all new auditing standards in the United States. Today, for publicly held companies, that responsibility rests with the

Multiple Choice

Financial Accounting Standards Board $[$FASB$]$; Public Company Accounting Oversight Board $[$PCAOB$].$

AICPA Auditing Standards Board $[$ASB$]$; Securities and Exchange Commission $[$SEC$].$

AICPA Auditing Standards Board $[$ASB$]$; Public Company Accounting Oversight Board $[$PCAOB$].$

Financial Accounting Standards Board $[$FASB$]$; Securities and Exchange Commission $[$SEC$].$