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1. The International Auditing and Assurance Standards Board (IAASB) affects the international auditing profession by establishing standards on auditing, quality control, review, other assurance, and

1. The International Auditing and Assurance Standards Board (IAASB) affects the international auditing profession by establishing standards on auditing, quality control, review, other assurance, and related services and encouraging similarity between national and international standards.

True or False?

2. The PCAOB was granted authority by the Sarbanes-Oxley Act to be the primary promulgator of financial auditing standards for public companies.

True or False?

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