It is a body supported by the International Foundation for Ethics and Audit.
The Public Interest Oversight Board provides oversight of the IAASB, ensuring that the standards are in the public interest.
[1][2] To further ensure proposed standards are in the public interest the IAASB consults its Consultative Advisory Group, which is composed of standard setters, various international organizations from the private and public sectors, and regulators.
Representatives include a balance of users and prepares of financial statements, and should to the extent practicable be balanced geographically.
Founded in March 1978 as the International Auditing Practices Committee (IAPC), the IAASB's current strategic objectives include: