generally accepted auditing standards


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Generally Accepted Auditing Standards

Guidelines for how audits ought to be conducted. The Generally Accepted Auditing Standards are set by the American Institute of Certified Public Accountants and provide a uniform set of standards for how to conduct audits in the United States.

generally accepted auditing standards (GAAS)

Guidelines established by the American Institute of Certified Public Accountants for use by public accountants when conducting external audits of financial statements. See also audited statement, unaudited statement.
References in periodicals archive ?
As noted in the report, ERISA holds plan administrators responsible for ensuring that plan financial statements are properly audited in accordance with generally accepted auditing standards (GAASs).
The audits inspected were required to be conducted under generally accepted auditing standards issued by the AICPA, and not under PCAOB standards.
For example, the new SAS 122, Statements on Auditing Standards: Clarification and Recodification, is an 805-page pronouncement that supersedes AU section 110, "Responsibilities and Functions of the Independent Auditor"; AU section 120, "Defining Professional Requirements in Statements on Auditing Standards"; AU section 150, "Generally Accepted Auditing Standards"; AU section 201, "Nature of the General Standards"; AU section 210, "Training and Proficiency of the Independent Auditor"; AU section 220, "Independence"; and AU section 230, "Due Professional Care in the Performance of Work."
As part of its Clarity, the Auditing Standards Board has issued its third final SAS, Preface to Codification of Statements on Auditing Standards, Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards, and Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards.
* Be the principal support for the auditor's representation that he or she followed generally accepted auditing standards (not just the standards of fieldwork) during the audit.
"Smaller firms don't usually follow generally accepted auditing standards and this negatively affects the jobs," Sonenberg said.
Our independent auditors conduct the annual audit of our financial statements in accordance with Generally Accepted Auditing Standards (GAAS).
* Updating the definitions of generally accepted auditing standards and generally accepted accounting principles to reflect current standards-setting bodies and pronouncements.
Accordingly, they bring important insights to Generally Accepted Auditing Standards (GAAS).
Specifically, in the audit field, the accounting firm should place strong emphasis on each auditor's compliance with Generally Accepted Auditing Standards (GAAS) and the Code of Professional Conduct.
Generally Accepted Auditing Standards and Key Performance Indicators.

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