Why Is International Harmonization of Auditing Standards Important

question 32

Multiple Choice

Why is international harmonization of auditing standards important?

• A) To be consistent with harmonized international accounting standards.
• B) To ensure the independence of external auditors of multinational corporations.
• C) To assure international capital markets that auditing has been consistent across companies.
• D) To reduce the authority of individual governments to enact accounting laws.

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Definitions:

Employee Voice

The means by which employees communicate their opinions, suggestions, concerns, or feedback to their employers, often with the aim to influence workplace decisions.

Industrial Relations

The study and practice of managing and improving relationships between management and employees, focusing on employment laws, labor contracts, and collective bargaining.

Mainstream Economics

The body of knowledge, models, and assumptions predominantly accepted and taught by economists and academic institutions around the world.

Employment Relationship

The formal or informal agreement between an employer and an employee that outlines the terms of employment, including duties, rights, and obligations.