International, assurance auditing, standards board (iaasb), Auditing

International, Assurance Auditing, Standards Board (IAASB)

The prologue to the International Standards on Quality Control, Auditing, Assurance and Related Services is issued to help in understanding of the objectives and operating process of the International Auditing and Assurance Standards Board (IAASB) and the range and authority of the pronouncements it issues, as place forth in the IAASB’s Interim Terms of Reference.

The task of the International Federation of Accountants (IFAC), as lay out in its constitution, is “the universal development and improvement of an accountancy profession with synchronized standards, capable to give services of consistently high excellence in the public interest.”

In pursuing this task, the IFAC Board has recognized the IAASB to build up and issue, under its own authority, high excellence standards on auditing, assurance and associated services engagements, associated Practice Statements and quality control standards for utilize around the world.

The IAASB’s statement govern audit, assurance and associated services engagements which are conducted in accordance with the International Standards.

They do not overrule the local laws or regulations which govern the audit of historical financial statements or assurance engagements on other information in a specific country needed to be followed in accordance with that country’s national standards. In the occasion that local laws or regulations vary from, or clash with, the IAASB’s Standards on a specific subject, an engagement conducted in accordance with local laws or policies will not automatically obey with them. A professional accountant must not represent compliance with the IAASB’s Engagement Standards except the professional accountant has obeyed fully with all of those related to the engagement.

The IAASB is dedicated to the aim of developing a set of International Standards commonly accepted universal. To further this aim, the IAASB works considerately with national standard setters, and receives a lead role in joint projects with them, to encourage convergence among national and international standards and attain acceptance of IAASB’s Standards.

Posted Date: 12/3/2012 4:51:57 AM | Location : United States







Related Discussions:- International, assurance auditing, standards board (iaasb), Assignment Help, Ask Question on International, assurance auditing, standards board (iaasb), Get Answer, Expert's Help, International, assurance auditing, standards board (iaasb) Discussions

Write discussion on International, assurance auditing, standards board (iaasb)
Your posts are moderated
Related Questions
Q. What is Transferred Basis? Transferred Basis - A transferred basis is the foundation of property in the hands of a transferor, donor or GRANTOR. In this sense a prior owner'

Audit Approach The auditor: 1) Must get the cooperation of the client, as simply the client can authorise third parties that communicate along with the auditor. 2) Choos

Describe your role in managing a discrete assignmentn..

Reliance on the Work of Other Auditors The principal auditor or the primary auditor is solely responsible for the holding company's accounts. So here it is inevitable but that

e following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has bee


Transferee Liability - A person may be held LIABLE for another taxpayer's delinquent taxes if: 1. The transferee received assets of the transferor-taxpayer; and 2. The transf

Necessity of Transactions with Related Parties Transactions along with related parties are essential for several reasons: (a) Several financial scandals including related p

Question 1: "While their roles sometimes overlap, financial statement auditors and forensic accounting investigators tackle financial fraud issues from different perspectives,

Non Current Assets or Fixed Assets In usual countries, not current assets are commonly classified like: a) Intangible assets Patents Licences Developme