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Generally Accepted Auditing Standards full-text: December 2001 96: Audit Documentation full-text: January 2002 97: Amendment to Statement on Auditing Standards No. 50: Reports on the Application of Accounting Principles full-text: June 2002 98: Omnibus Statement on Auditing Standards-2002 full-text: September 2002 99
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.
Independence of the internal auditor means independence from parties whose interests might be harmed by the results of an audit. 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.
Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. In addition to the SEC's rules and interpretive releases, the SEC staff issues Staff Accounting Bulletins that represent practices followed by the staff in administering SEC disclosure requirements ...
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 ...
Compliance or an assertion of compliance regarding laws, regulations, rules, contracts, or grants, is the focus of AT-C section 315. [ 30 ] Management's discussion and analysis (MD&A) , which are presented in annual reports to shareholders, is the focus of section 395.
The FASB Conceptual Framework was established in 1973 as a comprehensible set of standards and rules intended to address and solve new emerging issues. The conceptual framework underlaid financial accounting by serving as the Board's reasoning behind its standards-setting decisions. [18] [19]
By-laws and rules of professional conduct 1945 full-text: 1946: By-laws and rules of professional conduct 1946 full-text: 1948: By-laws and rules of professional conduct 1948 full-text: 1949-1950: By-laws, rules of professional conduct 1949-1950 full-text: 1950: December 18: By-laws, Rules of professional conduct, as amended by vote of the ...