Prior to the Sarbanes-Oxley Act of 2002, the was responsible for creating all new auditing standards in the United States. Today, for publicly held companies, that responsibility rests with the . Multiple Choice Financial Accounting Standards Board [FASB]; Securities and Exchange Commission [SEC]. AICPA Auditing Standards Board [ASB]; Securities and Exchange Commission [SEC]. Financial Accounting Standards Board [FASB]; Public Company Accounting Oversight Board [PCAOB]. AICPA Auditing Standards Board [ASB]; Public Company Accounting Oversight Board