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Step 1: Research and consultation is done and a draft of standards is prepared.

Step 2: The proposed standards are discussed at meetings, open to public

Step 3: Exposure drafts are put onto websites, and are widely distributed for comments for minimum 120 days.

Step 4: Any comments for the exposure drafts are discussed in the meeting that is open and the standards are revised.

Step 5: Approval is made by the affirmative vote of at least 2/3 members of IAASB members.

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Q: How are auditing standards enforced?
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