The International Auditing and Assurance Standards Board (IAASB) is an independent standard-setting body that develops and issues 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 objective is to promote the adoption and implementation of its standards globally, ensuring that audits are conducted with integrity and transparency. Its standards, such as the International Standards on Auditing (ISAs), provide a framework for auditors to follow, helping to build trust in financial reporting and improve the overall quality of financial information.