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The body of the ICAI that formulates the Standards on Auditing is the:
AQuality Review Board
BCentral Council directly
CAuditing and Assurance Standards Board (AASB)
DDisciplinary Committee
Answer & Solution
Correct answer: C. Auditing and Assurance Standards Board (AASB)
The AASB of ICAI formulates the Standards on Auditing.
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