The Technical Committee of the International Organization of Securities Commissions (IOSCO) issued a Statement titled as Principles of Auditor Independence and the Role of Corporate Governance in Monitoring an Auditors Independence (2002). The purpose of this Statement is to build on the principles that should govern the independence of auditors of financial statements of listed entities and to set forth principles relating to the oversight of an external auditors independence by a body or bodies within an entitys corporate governance structure. According to this statement, the standards of auditor independence should establish a framework of principles, supported by a combination of prohibitions, restrictions, other policies and procedures and disclosures, that addresses at least the following threats to independence: self-interest, self-review, advocacy, familiarity and intimidation. Required: Evaluate the relationship between auditing and the corporate governance structure of multinational corporations based on the statement issued by IOSCO