The creation of the PCAOB by the Sarbanes–Oxley
Act has affected both the standards-setting process and the periodic review of the quality of
an audit firm’s work.
a. Identify the responsibilities of the AICPA, PCAOB, and SEC in the auditing standardssetting
b. Which standard(s) provide guidance for the audits of public entities? Which standard(s)
provide guidance for the audits of nonpublic entities?
c. What role do the AICPA and PCAOB play in the periodic review of the quality of audit