Standards - What standards apply to each service and who...

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What standards apply to each service and who establishes those standards, auditing -------------------- Sami attestation ----------------- Sami Auditing In 2002 the PCAOB had the power to set auditing standards for auditors of public companies. Around 2003 the PCAOB recognized the generally accepted auditing standards that were recognized by the Auditing Standards Board (ASB) of the AICPA. “The most widely recognized auditing standards associated with the public accounting profession are known as the 10 generally accepted auditing standards (GAAS)” (Boynton & Johnson, 2006) . GAAS contain three sets of standards which are General Standards, Standards of Field Work, and Standards of Reporting. The general standards are linked to the qualifications of the auditor and to the quality of the auditor’s work. The field work standards concern the conduct of the audit at the entity’s place of business. The reporting standards require the audit to meet four reporting standards. “The Auditing and Attest Standards Team of the
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This note was uploaded on 04/17/2011 for the course ACCOUNTING 490 taught by Professor Santos during the Spring '11 term at University of Phoenix.

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Standards - What standards apply to each service and who...

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