Question
The Securities and Exchange Commission impose restrictions on publicly traded audit clients. Which of the following is true for audits of publicly traded companies? A.
The Securities and Exchange Commission impose restrictions on publicly traded audit clients. Which of the following is true for audits of publicly traded companies?
A. Auditors are restricted from providing audit services to privately held companies. | ||
B. The Public Company Accounting Oversight Board is responsible for issuing standards to be used by auditors of all publicly traded companies. | ||
C. The SEC has no influence in setting generally accepted accounting principles and disclosure requirements for financial statements. | ||
D. The SEC has power to establish rules for any CPA associated with audited financial statements submitted to the Commission. |
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