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Please Help!!!!!!!!! True or False 1.The American Institute of CPAs has, in the past, had a strong influence on the development of audiying principles. 2.The FASB is a division of the Internal
Revenue Service. 3.The PCAOB regulates CPA firms that audit nonpublic companies. 4.The IASB has authority to accept or reject financial accounting principles and standards developed by the FASB. 5.The FASB Standards are designed primarily for the use of the IRS. 6.Because of the Sarbanes-Oxley Act, it is probable that the FASB’s conceptual framework will become less important in developing accounting principle and standards.
The answers are ; 1.The American Institute of CPAs has, in the past, had a strong influence on the development of auditing principles. - True 2.The FASB is a division of the Internal Revenue Service. - False 3.The PCAOB regulates CPA firms that audit nonpublic companies. - False 4.The IASB has authority to accept or reject financial accounting principles and standards developed by the FASB. -
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Asked 11/3/2012 12:27:50 PM
Updated 11/29/2012 5:04:15 PM
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The answers are ;
1.The American Institute of CPAs has, in the past, had a strong influence on the development of auditing principles. - True
2.The FASB is a division of the Internal Revenue Service. - False
3.The PCAOB regulates CPA firms that audit nonpublic companies. - False
4.The IASB has authority to accept or reject financial accounting principles and standards developed by the FASB. - False
5.The FASB Standards are designed primarily for the use of the IRS. - True
6.Because of the Sarbanes-Oxley Act, it is probable that the FASB’s conceptual framework will become less important in developing accounting principle and standards. - True
Added 11/29/2012 5:04:16 PM
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Because of the Sarbanes-Oxley Act, it is probable that the FASB’s conceptual framework will become less important in developing accounting principle and standards.
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