Question 1 Generally accepted auditing standards are Pronouncements issued by the Auditing Standards Board. Rules acknowledged by the accounting profession because of their universal application. Required procedures to be used to gather evidence to support financial statements. Policies and procedures designed to provide reasonable assurance that the CPA firm and its personnel comply with professional standards. Click if you would like to Show Work for this question: Open Show Work Under the Sarbanes-Oxley Act of 2002, which of the following is not a stated responsibility of the Public Company Accounting Oversight Board? Issuing auditing standards that must be followed by registered public accounting firms in auditing the financial statements of issuers. Conducting inspections of registered public accounting firms. Issuing accounting standards that must be followed by Issuers in financial reporting. O Overseeing the registration of public accounting firms. Click If you would like to Show Work for this question: Open Show Work