You have been asked to make a presentation in your International Business class about how globalization is impacting the auditing profession. In preparation, you met with your auditing professor and discussed these questions:

e. To what extent are PCAOB auditing standards impacted by international standards?

f. What auditing standards should an audit firm follow when they audit a client located in a foreign country that is listed on both a foreign stock exchange and a U.S. stock exchange?