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Auditing Functions

explain the nature and functions of auditing.

Relate your explanation to the audit functions in your organization, or an organization with which you are familiar.

Address the following

· Describe the elements of the Generally Accepted Auditing Standards (GAAS).

· Describe how these standards apply to financial, operational, and compliance audits.

· Explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB), will have on audits of publicly traded companies.

· Discuss the additional requirements that are placed on auditors from this act and the actions of the PCAOB.

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Solution Summary

The author describes the Generally Accepted Auditing Standards (GAAS) and the Sarbanes-Oxley Act and how the latter effects the audits of publicly traded companies. There are additional requirements of auditors mentioned that stem from the actions of the PCAOB.

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