Which of the following statements about the PCAOB and the AICPA is incorrect?

	Audit firms registered with the PCAOB may have inspections as often as annually, whereas audit firms participating in AICPA peer reviews will not be reviewed annually.
	The PCAOB has regulatory authority, whereas the AICPA does not.
	Reports from PCAOB Inspections and AICPA Peer Reviews are publicly available to ensure transparency and engender public trust.
	The PCAOB AS and GAAS require auditors to be independent.