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The primary role of the AICPA Auditing Standards Board is to establish auditing standards that Certified Public Accountants (CPAs) are required to follow when conducting audits. This function is crucial as it helps ensure consistency, reliability, and quality in the audit process, thereby enhancing the credibility of audited financial statements. By providing a set of standards, the Board aims to guide CPAs in their audit practices, ensuring that they adhere to the highest professional standards that foster public trust in the accounting profession.

The establishment of these standards is vital for maintaining a uniform level of proficiency among auditors and helps facilitate comparability in financial reporting. The clarity and thoroughness of the standards also help auditors reduce risks associated with their work, as they set a framework within which auditors can effectively evaluate and report on the accuracy of financial statements.

While reviewing financial statements for accuracy, enforcing ethical standards, and providing tax education are all important aspects of the accounting profession, they fall outside the specific mandate of the Auditing Standards Board. The focus on establishing auditing standards emphasizes the Board's primary role in shaping the quality and reliability of the auditing process.