Take the following as truth: 2.5 Financial audits are performed under the American Institute of Certified Public Accountants' (AICPA) generally accepted auditing standards for field work and reporting, as well as the related AICPA Statements on Auditing Standards (SASs) which interpret the standards and provide guidance on conducting such work.
Then the following statement: "Financial audits are not performed with generally accepted auditing standards." is true, false, or inconclusive?
Answer: False