Read A Comparison of U.S. Auditing Standards (found in this weeks readings in the DeVry library).

In 3-4 pages (12-pt type, double-spaced) answer the following questions:

1. What efforts is the Auditing Standards Board making to clarify auditing standards?

2. Describe the five key differences between ISAs and US Auditing Standards.

3. How are the efforts of the Auditing Standards Board and the International Auditing and

Assurance Board similar to the Financial Accounting Standards Board and the International

Accounting Standards Board?