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In the United States, the Public Company Accounting Oversight Board develops standards (Auditing Standards or AS) for publicly traded companies since the 2002 passage of the Sarbanes–Oxley Act; however, it adopted many of the GAAS initially. The GAAS continues to apply to non-public/private companies.
The Relationship of Generally Accepted Auditing Standards to Quality Control Standards full-text: November 1979 26: Association with Financial Statements full-text: November 1979 27: Supplementary Information Required by the Financial Accounting Standards Board full-text: December 1979 28: Supplementary Information on the Effects of Changing ...
Independence of the internal auditor means independence from parties whose interests might be harmed by the results of an audit. [4] To maintain independence and neutrality, internal adjudicators should report directly to the Audit Committee and have unrestricted access to all applicable information and labor force within the association.
Under the AICPA's Code of Professional Ethics under Rule 203 – Accounting Principles, a member must depart from GAAP if following it would lead to a material misstatement on the financial statements, or otherwise be misleading. In the departure, the member must disclose, if practical, the reasons why compliance with the accounting principle ...
Independence; Due care; Continuing professional education (CPE) 80 hours every 2 years, 24 hours directly related to government auditing [1] Supervision; Quality control; The Yellow Book standards are used by auditors who examine the federal government, including the Government Accountability Office, various offices of inspectors general, and ...
By-laws and rules of professional conduct, 1938-1939 full-text: 1940: By-laws and Rules of professional conduct, 1940 full-text: 1941: By-laws and Rules of professional conduct, 1941 (as revised January 6, 1941) full-text: 1942: By-laws and rules of professional conduct, 1942 full-text: 1943: By-laws and rules of professional conduct, 1943 full ...
The PCAOB adopted the ASB's auditing and attest standards as its temporary auditing rules in 2003. [10] The AICPA subsequently changed the designation of the leading GAAS-setting authority in February 2004. It designated the PCAOB as the authoritative body for GAAS related to public companies, while the ASB was designated for non-public ...
Many countries have government sponsored or mandated organizations who develop and maintain auditing standards, commonly referred to generally accepted auditing standards or GAAS. These standards prescribe different aspects of auditing such as the opinion, stages of an audit, and controls over work product ( i.e. , working papers ).