True or False

1. Statements on Auditing Standards (SASs) are considered to be interpretations of the ten generally accepted auditing standards.

2. Audit firms are never allowed to provide bookkeeping services for their clients.

3. Results of compliance audits are typically reported to someone within the organizational unit being audited rather than to a broad spectrum of outside users.

4. The criteria used by an external auditor to evaluate published financial statements are known as auditing standards.

5. The Auditing Standards Board (ASB) has no plans to converge U.S. GAAS with the ISAs and align its agenda with the IAASB.

6. The Sarbanes-Oxley Act is widely viewed as having ushered in sweeping changes to auditing and financial reporting.

7. Form 10-K must be filed with the SEC whenever a public company experiences a significant event.