Auditing, as an activity, was defined by the American Accounting Association, Committee on Basic Auditing Concepts in “A Statement of Basic Auditing Concepts” (1973) as: “A systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users”. International auditing can be seen as referring to international rules for audits applicable in more than one country as well as referring to auditing practices, based on one set of auditing rules, of financial information prepared by multinational corporations