A is corrent because the US Governmental Accountability Office creates audit standards to be used in governmental auditing. All relevant standards of the AICPA for financial related audits have been incorporated by reference as part of the generally accepted auditing standards.
B is incorrect because one or both I and II are correct.
C is incorrect because auditors involved in governmental auditing must comply with government auditing standards (GAS) established by GAO, but they must also comply with generally accepted auditing standards (GAAS).
D is incorrect because auditors involved in governmental auditing must comply with all relevant AICPA generally accepted auditing standards, but they must also comply with government auditing standards (GAS).
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