Auditing and Assurance Services (16th Edition)
16th Edition
ISBN: 9780134065823
Author: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
Publisher: PEARSON
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Question
Chapter 2, Problem 21DQP
a.
To determine
State the objective of the IAASB and explain the users of International Standards on Auditing.
b.
To determine
Summarize the due process followed by the IAASB in setting standards.
c.
To determine
Explain the manner in which the IAASB is committed to transparency in the standard-setting process.
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International Standards on Auditing (ISAs) are issued by the International Auditingand Assurance Standards Board (IAASB). Use the IAASB Web site (http://www.ifac.org/IAASB/) to learn more about the IAASB and its standard-setting activities.a. What is the objective of the IAASB? Who uses International Standards on Auditing?b. Summarize the due process followed by the IAASB in setting standards.c. How is the IAASB committed to transparency in the standard-setting process?
Chapter 2 Solutions
Auditing and Assurance Services (16th Edition)
Ch. 2 - Prob. 1RQCh. 2 - Prob. 2RQCh. 2 - Prob. 3RQCh. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Prob. 8RQCh. 2 - Prob. 9RQCh. 2 - Prob. 10RQ
Ch. 2 - Prob. 11RQCh. 2 - State what is meant by the term peer review. What...Ch. 2 - Prob. 13.1MCQCh. 2 - Prob. 13.2MCQCh. 2 - Prob. 13.3MCQCh. 2 - Prob. 14.1MCQCh. 2 - Prob. 14.2MCQCh. 2 - Prob. 14.3MCQCh. 2 - Prob. 15.1MCQCh. 2 - Prob. 15.2MCQCh. 2 - Prob. 15.3MCQCh. 2 - Prob. 16DQPCh. 2 - Prob. 17DQPCh. 2 - Prob. 18DQPCh. 2 - Prob. 19DQPCh. 2 - Prob. 21DQP
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- Who created the International Auditing Standards?arrow_forwardDescribe the ASB's Clarity Project. Why is this so important for the auditing profession?arrow_forwardWhat is the Committee of Sponsoring Organizations (COSO)? Summarize its history and explain why it is relevant to auditing. Explain what internal control means and explain how internal control relates to auditing. Please provide references if any.arrow_forward
- Standardize auditing procedures by identifying industry consensus (GAAS). What's the point of GAAS, exactly?arrow_forwardDiscuss why we have a dual system of auditing standards in the U.S. (AICPA Auditing Standards Committee-Statement on Auditing Standards and the PCAOB-Auditing Standards). Be certain to identify when each system used.arrow_forwardHow does the role of the SEC differ from that of the AICPA? Contrast the roles of the AICPA and the PCAOB in the development of auditing standards.arrow_forward
- You are undertaking an audit programme. Discuss teh roles and responsibilites that the lead auditor would undertake when managing the audit program. according to ISO19011:2018arrow_forwardThe general objectives of international auditing standards a. Defining the responsibilities B. audit range C. Enhance the degree of scrutiny D.all of the above 9:45 AM ✓arrow_forwardWhat is operational auditing? How does the AICPA view operational auditing?arrow_forward
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