Final answer:
International auditing standards are developed by the IAASB, not the AICPA; hence, the statement is false. (option b)
Step-by-step explanation:
International auditing standards are not developed by the AICPA (American Institute of Certified Public Accountants). Instead, they are primarily established by the International Auditing and Assurance Standards Board (IAASB), which operates under the International Federation of Accountants (IFAC). The IAASB sets forth the International Standards on Auditing (ISAs), which provide guidelines for auditors globally. While the AICPA may influence auditing standards within the United States, its reach does not extend to international standards, which are crafted to ensure consistency and quality in auditing practices on a global scale.
The statement is false because international auditing standards are not developed by the AICPA but by the IAASB under the IFAC. Understanding the distinction between national and international standard-setting bodies is crucial in the context of global accounting and auditing practices.