The differences between international audit standards and those of the US have been found to be 'limited', according to an independent study published by the European Commission. The report, compiled by the Maastricht Accounting, Auditing and Information Management Research Centre on behalf of the EC, examined the technicalities of the differences between the International Auditing and Assurance Board and US Public Company Accounting Oversight Boards' standards in the case of International Standards on Auditing being adopted in the EU. It found that any convergence of US and International audit standards will not pose anywhere near the challenge that the convergence of IFRS has, but differences will arise due to Sarbanes-Oxley being implemented in the US, which includes an audit of the effectiveness of internal control as part of the audit of financial statements. The report concludes: 'The differences between US-based PCAOB auditing standards and the ISAs issued by the IAASB may be less important than the actual practice of auditing based on those standards as subject to inspection and enforcement by regulators in different jurisdictions'.