scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,432
Professional accounting bodies are driven by the desire to improve andto maintain high standards on the conduct of audits this has beenactualized by the setting up of standards boards that can guide theirauditing and accounting practices Both auditors and accountants mustadhere to the guidelines established in the international auditingstandards Any deviation from the principles and the essentialprocedures will ruin the practice and the reputation of the practiceAuditing standards will apply to the task of the auditor in developingand in communicating financial and accounting statements Internationalauditing standards are the professional standards that guide theperformance of financial auditing The audit standards are provided bythe International Federation of Accountants IFA through theInternational Auditing and Assurance Standards Boar IAASB Sinceaccountants are the auditors they should just adhere to theinternational audit standards International Standards on Auditing is a professional standards requiredfor the performance of auditing of any financial information It isissued by the International Federation of Accountants IFAC throughInternational Auditing and Assurance Standards Board Together with theInternational Organization of Securities Commission have been workingwith the International Accounting Standards Board that is associatedwith international Federation of Accountants to work together towardsconvergence of National and International Accounting and the Auditingstandards The international audit standards are often adopted on avoluntary basis and it is aimed at fostering harmonized standards onauditing They are desired to realize uniformity in financial auditingand reporting International audit standards require providing guidanceand direction of the responsibility of auditors to communicate mattersof governance interest arising from the audit of financial statements Professional standards for auditors provide guidance on the many judgments and decisions they make throughout the audit opinion formulation processThese standards help auditors properly plan perform document andsupervise audits Auditors who follow the professional auditingstandards are viewed as conducting a quality audit The internationalaudit standards is important for accountants and auditors to ensure thatthey carry out a quality and statutory audits as required by
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA