The statement that is not true in relation to the internationalisation of auditing standards is:
A)Many multinational firms voluntarily choose to have their financial statements audited according to international accounting standards
B)Auditing standards are being internationalised for the same reasons as accounting standards were internationalised
C)In the past the International Auditing and Assurance Standards Board (IAASB)has been praised for its independence from the auditing profession
D)None of the statements are untrue,i.e.all are true statements

Question

Quizplus · Accepted Answer

The statement that the IAASB has been praised for its independence from the auditing profession is not entirely true. While the IAASB is intended to be independent, there have been criticisms that it is not entirely free from influence from the auditing profession.

The Statement That Is Not True in Relation to the Internationalisation