International Standards on Auditing (ISAs)are set by which of the following organizations?
A)International Center for Audit Quality.
B)International Auditing and Assurance Standards Board.
C)American Institute of Certified Public Accountants
D)All of the above organizations participate in setting ISAs.

Question

Quizplus · Accepted Answer

International Standards on Auditing (ISAs) are set by the International Auditing and Assurance Standards Board (IAASB), which is an independent standard-setting body under the International Federation of Accountants (IFAC). The International Center for Audit Quality (ICAQ) is a global organization that promotes audit quality, but it does not set audit standards. The American Institute of Certified Public Accountants (AICPA) sets auditing standards for privately held companies in the United States, but those standards are not the same as the ISAs. Therefore, choices A and C are incorrect.

International Standards on Auditing (ISAs)are Set by Which of the Following