Auditing standards in the United States allow an auditor to perform an audit of a U.S.entity in accordance with both generally accepted auditing standards in the U.S.and the ISAs.

Question

Quizplus · Accepted Answer

This is true. U.S. auditing standards recognize the International Standards on Auditing (ISAs) issued by the International Auditing and Assurance Standards Board (IAASB) as an acceptable alternative to U.S. GAAS (Generally Accepted Auditing Standards) for audits of non-U.S. entities. As such, auditors can perform an audit of a U.S. entity in accordance with both U.S. GAAS and the ISAs.

Auditing Standards in the United States Allow an Auditor to Perform