True or False Questions - worth 2 points for each correct answer for a maximum of 10 points True or False Question Answer 1. The PCAOB provides oversight and enforcement over CPAs auditing private FALSE companies 2. The clarified auditing standards became effective for fiscal periods ending after TRUE December 15, 2011 3. PCAOB standards converged with International Standards on Auditing TRUE 4. The Public Company Accounting Oversight Board interim standards are identical to the clarified auditing standards issued by the Auditing Standards Board 5. Auditing interpretations are created by the staff of the Auditing Standards Division of the AICPA