QUESTION 4 'Auditing' as an activity was defined by the American Accounting Association in A Statement of Basic Auditing Concepts, published in 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. Required: a. Explain briefly the steps involves in the auditing systematic process. (6 marks) b. Explain why and how auditing has been internationalized, with particular reference to the role of multinational enterprises and international accounting firms. (14 marks) (Total: 20 marks)