International Standards of Auditing (ISAs) should be used by members of IFAC unless:

Question

Quizplus · Accepted Answer

Members of IFAC should follow ISAs unless local laws or regulations conflict with them. If there is a conflict, the local laws or regulations take precedence. Therefore, Option B is correct. Option A is incorrect because ISAs take precedence over national standards. Option C is incorrect because ISAs relate to auditing standards, while IFRS relates to accounting standards. Option D is incorrect because any differences between local laws and regulations and ISAs are resolved in favor of local laws and regulations.

International Standards of Auditing (ISAs) Should Be Used by Members