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 ?
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.
The process of conducting annual financial audits is reviewed by a public accounting firm to confirm that the methods and techniques being employed are effective and that the program follows generally accepted auditing standards applicable to the audit of Federal Reserve Banks.
In addition, he stated that definitions of internal control by the FCPA and the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) were based on a definition in the AICPA's generally accepted auditing standards.
Paragraph 18 of the clarified Statement on Auditing Standards (SAS) Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards.
Also recommended are reviews of the CPA's workpapers and any management letters issued in accordance with generally accepted auditing standards.
We conducted our audit in accordance with generally accepted auditing standards.
Our partners have extensive experience with the financial reporting requirements of federal securities laws, the Sarbanes-Oxley Act of 2002, the Public Company Accounting Oversight Board, and generally accepted auditing standards, as well as federal, state, and local taxing authorities.
Unless circumstances require otherwise, the examinations shall be conducted in accordance with generally accepted auditing standards, as defined in the Statement of Auditing Standards published by the American Institute of Certified Public Accountants and the Government Auditing Standards published by the Comptroller General of the United States, and shall include such tests of the accounting records and such other auditing procedures considered necessary to form an opinion on the propriety of the financial statements under examination.
Lim has directed research involving the evaluation of financial accounting and disclosures with regard to Generally Accepted Accounting Principles (GAAP), the evaluation of audit and review procedures with regard to Generally Accepted Auditing Standards (GAAS), the evaluation of the adequacy of internal controls over financial reporting (ICFR), and the appropriateness of cost accounting allocations.
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.
Audited financial statements must now be prepared in accordance with the generally accepted auditing standards set out in the Canadian Institute of Chartered Accountants Handbook.

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