Auditing Standards Board


Also found in: Dictionary, Medical, Acronyms, Encyclopedia, Wikipedia.

Auditing Standards Board

The branch of the American Institute of Certified Public Accountants that sets the Generally Accepted Auditing Standards. Its decisions about audit procedures 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.
References in periodicals archive ?
* Auditing Standards Board exposure drafts, including recently issued proposed statements on defining professional requirements in statements on auditing standards (SASs) and in statements on standards for attestation engagements (SSAEs), as well as a proposed SAS on audit documentation, www.aicpa.org/members/div/ auditstd/2005_02_28_prof_req.asp.
It was created by the Audit Issues Task Force of the Auditing Standards Board in response to the increased risk of misstatement inherent with these investments that do not have a readily determinable market value.
103 of the act empowers the board to establish or adopt, by rule, "auditing, quality control, ethics, independence and other standards relating to the preparation of audit reports for issuers' The board is required to "cooperate on an ongoing basis" with the Auditing Standards Board and other standard setters and "to the extent that it determines appropriate" adopt standards proposed by those groups.
The AICPA's Auditing Standards Board announced that it has approved a new standard: Statement on Auditing Standards 99, Consideration of Fraud in a Financial standard gives auditors expanded guidance for detecting material fraud.
The AICPA's Auditing Standards Board recently issued three exposure drafts.
To better serve both members and the public, the Institute made available on its Web site free of charge the standards and interpretations promulgated by the Auditing Standards Board (ASB).
Due to the increased risk of misstatement inherent with these investments, the Audit Issues Task Force of the Auditing Standards Board established the Alternative Investments Task Force.
RESOLVED: That with respect to standards relating to the preparation and issuance of audit reports not included within the resolution on the Public Company Accounting Oversight Board, the AICPA auditing standards board is hereby designated as the body authorized under rules 201 and 202 to promulgate auditing, attestation, and quality control standards and procedures.
The Auditing Standards Board, feeling the pressure from disgruntled investors, took a jab at the problem of fraud in 1996, with their Statement on Audit Standards No.
The AICPA's Auditing Standards Board has a current project to consider whether the auditor's report should be revised.
The auditing standards board (ASB) issued two interpretations of Statement on Auditing Standards (SAS) no.
The panel recommends significantly strengthening the POB's role in the auditing profession's governance, including that the POB oversee the Auditing Standards Board, Independence Standards Board and SEC Practice Section Executive Committee.