- 7 Marks
AA – Nov 2023 – L2 – Q5a – Institutional Regulation and Standard-Setting
This question describes the process for developing and updating International Standards on Auditing (ISAs).
Question
International Standards on Auditing (ISAs) are developed and updated by the International Auditing and Assurance Standards Board (IAASB), which is an independent standard-setting body established by the International Federation of Accountants (IFAC). The Institute of Chartered Accountants, Ghana adopts the standards set by the International Auditing and Assurance Standards Board (IAASB).
Required:
Describe the process for developing and updating ISAs.
(7 marks)
Find Related Questions by Tags, levels, etc.
- Tags: : ISA development, IAASB, IFAC, Standard-setting process
- Level: Level 2
- Topic: Institutional Regulation and Standard-Setting
- Series: NOV 2023
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