The annual financial statements of a publicly held company have been audited, and its interim financial statements have been reviewed. Which of the following is true about the application of professional standards to this review?
a.
PCAOB standards apply.
b.
Statements on Standards for Accounting and Review Services apply.
Choice "A" is correct. A review of the interim financial information of a publicly held company is conducted in accordance with PCAOB standards.
Choices "b" and "d" are incorrect. Statements on Standards for Accounting and Review Services apply to reviews of the financial statements of nonissuers.
Choice "c" is incorrect. A review of the interim financial information of a publicly held company is conducted in accordance with PCAOB standards.
