The Public Company Accounting Oversight Board.12 (2) (2 ) performs inspections of the quality controls of audit firms that audit public companies establishes auditing standards that must be followed by CPAs on all audits O oversees auditors of private companies performs any of the above functions O The introductory paragraph of the auditor's report states that the aubitor is responsible for the. 13 * preparation presentation and opinion on financial statements (2 (2 ) True False