Which statement is false regarding the registration of public accounting firms with the PCAOB? Multiple Choice Registration is required of all U.S. firms that prepare, issue or participate in the preparation of an audit report for an entity that issues securities.

Foreign accounting firms are exempt from registration.

Disclosure requirements include annual fees received from each issuer for the firms audit and non-audit services.

The Public Company Accounting Oversight Board subjects registered firms to periodic inspections.

Information regarding disagreements between the issuer and the audit firm during the previous year must be disclosed.