TEST BANK for Auditing and Assurance Services, 8th Edition, Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau. All Chapters 1-12. 798 Pages

6) The Public Company Accounting Oversight Board (PCAOB) provides oversight to auditors of publicly traded and private companies. A) True B) False Answer: B Terms: Public Company Accounting Oversight Board Diff: Easy Objective: LO 2-2 AACSB: Reflective thinking skills 7) All CPA firms registered with the PCAOB are required to undergo a peer review annually. A) True B) False Answer: B Terms: PCAOB requirement for peer review Diff: Moderate Objective: LO 2-2 AACSB: Reflective thinking skills Topic: SOX Learning Objective 2-3 1) The form that must be completed and filed with the Securities and Exchange Commission whenever a company experiences a significant event that is of interest to public investors is the: A) Form S-1. B) Form 8-K. C) Form 10-K. D) Form 10-Q. Answer: B Terms: Sec form 8-k, reporting significant events Diff: Moderate Objective: LO 2-3 AACSB: Reflective thinking skills 2) The form that must be filed with the Securities and Exchange Commission whenever a company plans to issue new securities to the public is the: A) Form S-1. B) Form 8-K. C) Form 10-K. D) Form 10-Q. Answer: A Terms: Form must be completed and filed with Securities and Exchange Commission when company plans to issue new securities Diff: Moderate Objective: LO 2-3 AACSB: Reflective thinking skills