Which of the following statements about the auditing standards issues by the AICPA is true?
A. The auditing standards issued by the AICPA are no longer recognized by the PCAOB.
B. The auditing standards issued by the AICPA are no longer recognized by the profession because the AICPA voted itself out of existence.
C. The auditing standards issues by the AICPA continue to be issued by that organization for audits of public companies.
D. The auditing standards issued by the AICPA were used by the PCAOB as a starting point.
Answer: D
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