The International Auditing and Assurance Standards Board (IAASB) is an independent standards body that issues standards, like the

International Standards on Auditing International Standards on Auditing (ISA) are professional standards for the auditing of financial information. These standards are issued by the International Auditing and Assurance Standards Board (IAASB). According to Olung M (CAO - L), ISA g ...

quality control Quality control (QC) is a process by which entities review the quality of all factors involved in production. ISO 9000 defines quality control as "a part of quality management focused on fulfilling quality requirements". This approach place ...

guidelines, and other services, to support the international

auditing An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing ...

financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...

s. It is a body supported by the

International Federation of Accountants The International Federation of Accountants (IFAC) is the global advocacy organization for the accountancy profession; mainly for the financial accounting and auditing professions. Founded in 1977, IFAC has more than 175 members and associates i ...

(IFAC). The

Public Interest Oversight Board The Public Interest Oversight Board (PIOB) is an international body that oversees the International Federation of Accountants (IFAC) and seeks to improve the quality and public interest focus of the IFAC standards in the areas of audit, education, ...

provides oversight of the IAASB, ensuring that the standards are in the

public interest The public interest is "the welfare or well-being of the general public" and society. Overview Economist Lok Sang Ho in his ''Public Policy and the Public Interest'' argues that the public interest must be assessed impartially and, therefor ...

. To further ensure proposed standards are in the public interest the IAASB consults its Consultative Advisory Group, which is composed of standard setters, various international organizations from the private and public sectors, and regulators. Representatives include a balance of users and prepares of financial statements, and should to the extent practicable be balanced geographically. Founded in March 1978 as the International Auditing Practices Committee (IAPC), the IAASB's current strategic objectives include: * Increase the emphasis on emerging issues to ensure that the IAASB International Standards provide a foundation for high-quality audit, assurance and related services engagements * Innovate the IAASB’s ways of working to strengthen and broaden our agility, capabilities, and capacity to do the right work at the right time * Maintain and deepen relationships with stakeholders to achieve globally relevant, progressive and operable standards
About IAASB

References

External links

* {{Official website, http://www.ifac.org/auditing-assurance International accounting organizations Auditing standards International standards

See also

References

External links