Question

Which is not a primary source of the PCAOB independence rules?

A.) AICPA Frequently Asked Questions: Nonattest Services
B.) SEC Rule 2-01
C.) Certain standards and interpretations adopted by the Independence Standards Board
D.) AICPA independence rules as of April 16, 2003

Answer 1

The primary sources of the PCAOB independence rules include SEC Rule 2-01, standards from the Independence Standards Board, and AICPA independence rules as of 2003. The AICPA FAQs on Nonattest Services are not considered a primary source.

Step-by-step explanation:

The primary sources of the Public Company Accounting Oversight Board (PCAOB) independence rules do not include the AICPA Frequently Asked Questions: Nonattest Services. The PCAOB rules are focused on ensuring auditors' independence from the entities they audit, and the AICPA FAQs are not a foundational source for these rules.

Instead, the PCAOB independence rules primarily derive from sources such as SEC Rule 2-01, standards and interpretations adopted by the Independence Standards Board, and the AICPA independence rules as they stood on April 16, 2003, which have been cited in the PCAOB's founding legislation, the Sarbanes-Oxley Act of 2002.