The International Auditing and Assurance Standards Board sets international standards on auditing and has developed a framework for audit quality.

Question

Quizplus · Accepted Answer

The statement is true. The International Auditing and Assurance Standards Board (IAASB) is an independent standard-setting body that sets international standards on auditing, assurance, and related areas. The IAASB has also developed a framework for audit quality, which includes a set of indicators and factors that contribute to high-quality audits.

The International Auditing and Assurance Standards Board Sets International Standards