The International Standards on Auditing (ISA)
A) are issued by the AICPA.
B) override a country's regulations governing the audit of a company.
C) has many of the same standards as the Auditing Standards Board (ASB).
D) must be followed by companies whose stock is traded in the U.S.

Question

Quizplus · Accepted Answer

The International Standards on Auditing (ISA) have many of the same standards as the Auditing Standards Board (ASB) but are issued by the International Auditing and Assurance Standards Board (IAASB), not the AICPA. They do not necessarily override a country's regulations, but rather provide a global framework for auditing. They are not required to be followed by companies whose stock is traded in the U.S.