Aud 8 International Auditing

Front 1

International Auditing Standards created by

Back 1

International Auditing and Assurance
Standards Board (IAASB)
o Member of the International Federation of
Accountants (IFAC)

Front 2

International vs. US Audit Standards

Back 2

 IAASB = No Internal Control audits
 IAASB = No Referencing another Audit Firm
 IAASB = Less detailed documentation
 IAASB = Required: obtain written fraud assessment
 IAASB = Required: location of auditor’s home office

Front 3

Ethical Standards - All Accounts

Back 3

 Accountants should have Integrity
 Accountants should be Objective
 Accountants should have Competence
 Accountants should exercise Due Care
 Accountants should maintain Confidentiality
 Accountants should act Professionally