Question 12 A peer review engagement is an engagement in which a client company arranges for a critical review of its practices by a CPA firm. This review is performed regularly every three years True False SA The generally accepted auditing standards established by the AICPA and had been accepted as applicable standards by the Public Company Accounting Oversight Board. True False Moving to another The methods used by a CPA firm to ensure that the firm meets its professional responsibilities to clients and others is compliance with Generally Accepted Auditing Standards. True False Historically, auditing standards have been revised to converge with international standards and have been organized into three Categories, including adequate understanding of internal control. Trud False uestion 1 1 points The American Institute of Certified Public Accountants has been the primary source for auditing standards, other professional requirements, and ethical rules for all auditors True False