What are the International Auditing and Assurance Standards Board and the American Auditing Standards Board?

The International Auditing and Assurance Standards Board and the American Auditing Standards Board (ASB, an organization under the former American Institute of Certified Public Accountants) have identified relevant projects to deal with the changes in the auditing environment, and considered the research suggestions of the joint working group and the public oversight committee. Due to the similar problems faced by the two standard-setting institutions and the same goal of improving audit quality, the two projects combined and set up a joint risk assessment working group to formulate the same audit risk standards and achieve international coordination from the source.