Which of the following is not true with respect to the responsibilities for establishing generally accepted auditing standards?
1) The responsibilities for establishing generally accepted auditing standards lie with the Financial Accounting Standards Board (FASB).
2) The responsibilities for establishing generally accepted auditing standards lie with the Public Company Accounting Oversight Board (PCaOB).
3) The responsibilities for establishing generally accepted auditing standards lie with the American Institute of Certified Public Accountants (AICPA).
4) The responsibilities for establishing generally accepted auditing standards lie with the Securities and Exchange Commission (SEC).