Which of the following statements is most accurate with respect to the similarity between ISAs and U.S.GAAS?

Question

Quizplus · Accepted Answer

ISAs (International Standards on Auditing) and U.S.GAAS (Generally Accepted Auditing Standards) are quite similar, but not identical. Both provide guidance for auditors on conducting audits and issuing opinions on financial statements. However, there are some differences in terminology and specific requirements. Overall, ISAs are designed to be more globally applicable, whereas U.S.GAAS is specific to auditing in the United States.

Which of the Following Statements Is Most Accurate with Respect