Which organization oversees the international auditing standards relevant to government audits?

The organization that oversees the international auditing standards relevant to government audits is the International Organization of Supreme Audit Institutions (INTOSAI). INTOSAI plays a crucial role in developing frameworks and standards specifically designed for public sector auditing. It works to enhance national audit capacities and promotes cooperation among supreme audit institutions globally.

INTOSAI provides guidance and establishes international standards that align with the unique needs of government auditing. Its standards help ensure transparency, accountability, and efficiency in the use of public resources. This focus on the public sector differentiates it from other organizations that concentrate on private sector accounting and auditing standards.

While organizations like the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) set standards for financial reporting within the private sector, they do not specifically cater to government auditing practices. The Global Accounting Association (GAA), while it may promote accounting practices, does not hold the specific focus or authority of INTOSAI in the realm of government auditing standards. Thus, INTOSAI is indeed the recognized governing body for international auditing standards applicable to government audits.