![]() There are various beneficiaries and users of the financial statements presented by a company other than the management itself, like shareholders and investors, governments or taxation departments, customers and suppliers, etc.Ģ. Derivatives of ISAs are used in the audit of several other jurisdictions, including the United Kingdom.Need for Generally Accepted Accounting Principles (GAAP)ġ. International Standards on Auditing are stated by the International Auditing and Assurance Standards Board of the International Federation of Accountants. The AICPA provides a list of the AU-C standards. In the interim period, these new AU sections are referred to as AU-C until 2014. In October 2011, SAS 122 was issued which superseded all previous SASes except 51, 59, 65, 87, and 117-20. Many of the AU sections are being remapped as part of the Clarity Project. ![]() In 2004, a project was begun to clarify and converge the standards with the International Standards in Auditing (ISAs). In all cases where an auditor's name is associated with financial statements, the auditor should clearly indicate the character of the auditor's work, if any, and the degree of responsibility the auditor is taking, in the auditor's report When the auditor cannot express an overall opinion, the auditor should state the reasons therefore in the auditor's report.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |