This organization was established by the IFAC to set International Standards on Auditing (ISAs) that contribute to the uniform application of auditing practices on a worldwide basis.
A)International Systems Audit and Control Association
B)Auditing Standards Board
C)Public Company Accounting Oversight Board
D)International Auditing and Assurance Standards Board (IAASB)

Question

This organization was established by the IFAC to set International Standards on Auditing (ISAs) that contribute to the uniform application of auditing practices on a worldwide basis.
A)International Systems Audit and Control Association 
B)Auditing Standards Board
C)Public Company Accounting Oversight Board
D)International Auditing and Assurance Standards Board (IAASB)

Quizplus · Accepted Answer

The International Auditing and Assurance Standards Board (IAASB) was established by the International Federation of Accountants (IFAC) to set International Standards on Auditing (ISAs) that can be applied uniformly worldwide. Therefore, option D is the correct answer. Option A, the International Systems Audit and Control Association, does not set auditing standards but focuses on information systems audit and control. Option B, the Auditing Standards Board, only sets standards for auditors in the United States. Option C, the Public Company Accounting Oversight Board, was established under the Sarbanes-Oxley Act and only sets auditing standards for public companies in the United States.

This Organization Was Established by the IFAC to Set International