Which of the following is not true with respect to the responsibilities for establishing generally accepted auditing standards?
A) Auditing standards for both public and private entities must be formally approved by the Securities and Exchange Commission.
B) Interpretive publications are issued by the AICPA to provide guidance on the application of generally accepted auditing standards in specific circumstances.
C) The PCAOB is the body with formal authority for the creation of auditing standards for the audits of public entities.
D) If specific guidance is not provided by PCAOB Auditing Standards, auditors may refer to Statements on Auditing Standards that have not been amended or superseded.