Read "A Comparison of U.S. Auditing Standards" n 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 ISA's 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?