Which of the Following Statements Is Not True with Respect

Multiple Choice

Which of the following statements is not true with respect to the responsibility for establishing generally accepted auditing standards?

A) The PCAOB issues auditing standards for the audit of issuers, subject to SEC approval.
B) Standards issued by the Auditing Standards Board after 2003 apply to the audits of both issuers and non-issuers.
C) The Auditing Standards Board currently issues auditing standards for the audit of non-issuers.
D) Prior to the Sarbanes-Oxley Act, the Auditing Standards Board issued auditing standards for the audits of both issuers and non-issuers.