Multiple Choice Questions
1. As a general rule, to practice auditing, auditors in Canada and most European countries must do which of the following?
a. Obtain licensing in their respective countries.
b. Obtain licensing from the International Accounting Standards Board.
c. Both a and b.
d. Obtain licensing from the International Accounting Standards Committee

2. Which of the following is not one of the primary rule-making bodies that affect the auditing procession?
a. PCAOB.
b. SEC.
c. FASB.
d. GASB.
e. None of the above is not a primary rule-making body that affects the auditing profession.

3. Which of the following organizations was/were created by the Sarbanes-Oxley Act?
a. PCAOB.
b. SEC.
c. FASB.
d. GASB.
e.All of the above.

4. Which of the following groups is the primary promulgator of financial auditing standards for private companies?
a. PCAOB.
b. SEC.
c. FASB.
d. GASB.
e. None of the above.

5. Which of the following organizations affects the international auditing profession by establishing standards on auditing, quality control, review, other assurance, and related services and encouraging similarity between national and international standards?
a. International Accounting Standards Board.
b. Transnational Accounting Standards Board.
c. Multinational Accounting Standards Board.
d. None of the above.