DEFINITION of 'Auditing Standards Board - ASB'
The American Institute of Certified Public Accountants' (AICPA) senior technical committee for auditing, attestation and quality control. The Auditing Standards Board produce statements, standards and guidance to certified public accountants (CPAs) for non-public company audits. The Auditing Standards Board exists to service "the public interest by improving existing and enabling new audit and attestation services."
BREAKING DOWN 'Auditing Standards Board - ASB'
The Auditing Standards Board provides performance, reporting and quality control guidance as it pertains to audit and attest activities. The Auditing Standards Board is comprised of 19 members, including:
- Five members from local, regional and national firms;
- Five members nominated by the National Association of State Boards of Accountancy(NASBA);
- Four members from the big four firms; and
- Five users and public members.