Title

Multiple Auditing Standards And Standard Setting: Implications For Practice And Education

Keywords

AICPA; Audit education; Auditing standards; Clarity project; PCAOB

Abstract

We organized a panel discussion on the roles of the multiple auditing standard setters and the implications of these multiple sets of standards for practice and education. The session took place at the American Accounting Association (AAA) Auditing Section Meeting in Savannah, Georgia in January 2012. In this paper, we discuss the roles of the various auditing standards setters (e.g., Auditing Standards Board [ASB], Public Company Accounting Oversight Board [PCAOB], International Auditing and Assurance Standards Board [IAASB]) and how the standards have diverged over time. We then present panelists' responses to questions raised during the session, which reflect differing perspectives concerning why multiple standards may be necessary, barriers to a more unified structure for auditing standards, and differences in enforcement and quality assessment. The panelists also discussed challenges posed by the existence of multiple standards for CPA firms, students, and instructors, and how these challenges may be addressed by both educators and accounting firms.

Publication Date

1-1-2013

Publication Title

Current Issues in Auditing

Volume

7

Issue

1

Number of Pages

-

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.2308/ciia-50344

Socpus ID

84879576154 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/84879576154

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