Question 1 In late 2001 through 2002, the accounting profession faced a "crisis of credibility." Describe the events that led up to this crisis.

Question 2 Public accounting firms are sometimes grouped into categories of local firms, regional firms, national firms, and international firms. Explain briefly the characteristics of each. Include in your answer the types of services stressed in each group.

Question 3 Evaluate the following quotation: "If a CPA firm completes a nonpublic company audit of Adam Company's financial statements following AICPA generally accepted auditing standards and is satisfied with the results of the audit, an unmodified audit report may be issued. On the other hand, if no audit is performed of the current year's financial statements, but the CPA firm has performed satisfactory audits in prior years, has confidence in the management of the company, and makes a quick review of the current year's financial statements, a qualified report may be issued."

Do you agree? Give reasons to support your answer.

Question 4 Various organizations develop standards for audits and regulate CPA firms. Compare and contrast the roles of the AICPA, the PCAOB, and the state boards of accountancy along the following dimensions:

Required:

a. Standard setting.

b. Regulation of CPA firms.

c. Source of authority.

Please answer the question the same format and please explain everything well

Please also add references and intext citations below