International Auditing Standards in the United States, 2nd Edition

CHAPTER 1

International Auditing: A History and Introduction

This chapter discusses important background elements of auditing.

• Background of the Auditing Standards Board (ASB) and Public Company Accounting Oversight Board (PCAOB) of the United States, and International Auditing and Assurance Standards Board
• Determination of international auditing standards and ASB and PCAOB standards. A brief description of how an audit is conducted
• Implications for researchers, practitioners, and students

Introduction

Millions of individuals have had their financial futures negatively affected by corporate fraud and other malfeasance in the last 30 years. Management of corporations bear the responsibility for creating the financial statements that many stockholders ...