What is the difference between the audit of a public company and a non-public company? O The auditing standards for public and non-public companies are set by separate entities. O Public companies are audited by public accounting firms, whereas non-public companies are audited by other audit firms. O Public companies are required to use generally accepted accounting standards whereas non-public companies may use pro-forma reporting. O These are all differences between auditing public and nonpublic companies.