The Auditing Standards Board

The Auditing Standards Board (ASB) is a part of the American Institute of Certified Public Accountants (AICPA) that establishes standards for auditing financial statements. Its role is to ensure that audits are conducted in a consistent, high-quality manner, which helps maintain trust in financial reporting. The ASB creates guidelines that auditors must follow, allowing stakeholders—like investors and regulators—to have confidence that financial statements accurately reflect an organization's performance and condition. This oversight is crucial for transparency and accountability in the financial markets.