The Body That Prepares the Auditing Standards That Apply in Australia

question 20

Multiple Choice

The body that prepares the auditing standards that apply in Australia is:

• A) the AUASB.
• B) the ASIC.
• C) the AASB.
• D) the IFAC.

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Definitions:

Federal Government

The national government of a federal country, such as the United States, which has specific powers granted by the Constitution, distinct from state governments.

Corporation Social Responsibility

Practices and policies undertaken by corporations to positively impact societal, environmental, and economic domains.

Corporate Profits

The earnings of a corporation after all expenses, taxes, and costs have been deducted from total revenue.

Consumer Preferences

The subjective tastes and desires influencing the choices that consumers make among various products and services.