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Statement of Auditing Standards
(redirected from Statements on Auditing Standards)

   Also found in: Wikipedia 0.01 sec.
Statement of Auditing Standards
A decision by the Auditing Standards Board providing information on how to conduct an audit. The Board's decisions are authoritative; auditors generally must abide by them. The Auditing Standards Board provides a uniform set of standards for conducting audits in the United States.


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These standards are established by the Audit Standards Board of the American Institute of CPAs and are published in the Codification of Statements on Auditing Standards (considered the CPAs' bible) containing thousands of pages of specific requirements.
The AICPA's Accounting and Review Services Committee has issued an exposure draft of a proposed statement on standards for accounting and review services, Elimination of Certain References to Statements on Auditing Standards and Incorporation of Appropriate Guidance into Statements on Standards for Accounting and Review Services, Comments are due May 18.
The auditing standards include a documentation standard, a suite of eight risk assessment standards and a standard that defines professional requirements in statements on auditing standards and statements on standards for attestation engagements.
 
 
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