The International Auditing and Assurance Standards Board (IAASB) is an independent standard-setting body that develops and promotes international standards for auditing, assurance, and related services. Established in 1977, it operates under the auspices of the International Federation of Accountants (IFAC) and aims to enhance the quality and consistency of auditing practices worldwide. The IAASB's primary goal is to ensure that audits are conducted in a manner that is reliable and transparent, thereby increasing the trust of stakeholders in financial statements. Its standards, known as the International Standards on Auditing (ISAs), provide a framework for auditors to follow, ensuring that they perform their work with integrity and professionalism.