Which of the following is true with respect to PCAOB inspections of accounting firms? a. All firms

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Which of the following is true with respect to PCAOB inspections of accounting firms?

a. All firms performing audits of public companies are required to have annual inspections conducted by the PCAOB.

b. PCAOB inspections review a sample of audits conducted by firms as well as the firm’s systems of quality control.

c. All results of PCAOB inspections are made available to the public following the inspection.

d. Firms performing audits of 100 or fewer public entities may elect to have a peer review conducted through the AICPA in lieu of a PCAOB inspection.

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Auditing and Assurance Services

ISBN: 978-0077862343

6th edition

Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws

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Question Posted: Oct 27, 2014 05:17 AM

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Which of the following is true with respect to PCAOB inspections of accounting firms? a. All firms

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a Incorrect Annual inspections are only required for audit firms that audi...View the full answer

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