International Auditing Standards in the United States

CHAPTER 12

Final Considerations About Auditing

In this chapter, we discuss why corporate governance and differences in the international regulation of auditing practice are of importance. This chapter discusses so-called “meta-issues”, issues above and beyond the specific auditing standards used. Specifically, we discuss:

•corporate governance and its implications for auditors;

•auditor regulation in different venues;

•financial reporting standards (International Financial Reporting Standards [IFRS], Generally Accepted Accounting Principles [GAAP]) and their implications for understanding audited financial statements; and

•implications for researchers, practitioners, and students. ...

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