Chapter _2 (GAAS Overview)

Chapter _2 (GAAS Overview) - Ethical Standards Ch #19...

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Audit Decision Making Ethical Standards Ch #19 Legal Liability Ch #20 Regulatory Requirements (SEC, PCAOB) (GAAS) Professional Standards Ch #2
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A Comment by Bob Elliott on the Importance of Standards “When different auditors evaluate systems they need common, not idiosyncratic, criteria.” (From my interview of RKE) Q: Why is that important for all services rendered by CPAs?
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GAAS: GENERAL STANDARDS (3 of These --"TID") 1. TRAINING: The auditor must have adequate technical training and proficiency to perform the audit. 2. INDEPENDENCE: The auditor must maintain independence in mental attitude in all matters relating to the audit. 3. DUE PROFESSIONAL CARE: The auditor must exercise d ue professional care in the performance of the audit and the preparation of the report.
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STANDARDS OF FIELDWORK (3 of These --"PIE") 1. PLANNING & SUPERVISION: The auditor must adequately plan the work and must properly supervise any assistants. 2.
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This note was uploaded on 04/22/2011 for the course ACCY 360 taught by Professor T during the Spring '08 term at Northern Illinois University.

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Chapter _2 (GAAS Overview) - Ethical Standards Ch #19...

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