Auditing Standards and Requirements
Not what you're looking for?
- 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.
Purchase this Solution
Solution Summary
- 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.
Solution Preview
Describe the elements of the Generally Accepted Auditing Standards (GAAS).
GAAS are categorized into three areas, which include general standards, standards of field work, and standards of reporting. In each of the three areas, the guidelines are established to basically demand that auditors follow the highest of standards. Each element includes procedures - how various acts are to be carried out, which lays the foundation for the auditor's work on every audit.
Describe how these standards apply ...
Purchase this Solution
Free BrainMass Quizzes
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Introduction to Finance
This quiz test introductory finance topics.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.