This serves as an established criteria of which professional accountants based their audit services to their clients.Select one:a.Professional Standardsb.Consultative Advisory Group (CAG)c.Public Interest Oversight Board (PIOB)d.International Federation of Accountants (IFAC)

In the Philippine setting, the standards that are relevant in the conduct of the CPA profession are, exceptSelect one:a.Generally Accepted Auditing Standards (GAAS)b.Generally Accepted Accounting Principles (GAAP)c.Philippine Standards on Auditing (PSA)d.Philippine Standard on Quality Control (PSQC)

International auditing standards are issued by the:  A. International Accounting Standards Board  B. Financial Accounting Standards Board  C. International Audit and Assurance Standards Board  D. Auditing Practices Board

What organization sets the principles and standards of financial accounting and reporting in the private sector?Multiple ChoiceAmerican Institute of Certified Public AccountantsFinancial Accounting Standards BoardSecurities and Exchange Commission’s (SEC)Governmental Accounting Standards Board

Quality control systems, policies and procedures are the responsibility of theSelect one:a.management's accountantb.managementc.those charged with the governance of the clientd.audit firm

Which statement is incorrect regarding the Code of Ethics for Professional Accountants in the Philippines?Select one:a.Where a national statutory requirement is in conflict with a provision of the IFAC Code, the IFAC Code requirement prevails.b.Professional accountants refer to persons who are Certified Public Accountants (CPA) and who hold a valid certificate issued by the Board of Accountancy.c.The Code of Ethics for Professional Accountants in the Philippines is mandatory for all CPAs and is applicable to professional services performed in the Philippines on or after January 1, 2004.d.Professional accountants should consider the ethical requirements as the basic principles which they should follow in performing their work.