Unformatted text preview: Association, Committee on Basic Auditing Concepts, “A Statement of Basic
Auditing Concepts” (Sarasota, FL: AAA, 1973). mes25435_ch01_001-032.indd 12 26/05/11 9:24 PM Conﬁrming Pages Chapter 1 An Introduction to Assurance and Financial Statement Auditing 13 between those assertions and established criteria.” While different types of “criteria” might be available in various settings, generally accepted accounting principles usually serve as the basis for management’s assertions in the context of a
ﬁnancial statement audit.
The last important phrase in the deﬁnition, “communicating the results to
interested users,” is concerned with the type of report the auditor provides to the
intended users. The communication will vary depending on the type and purpose of the audit. In the case of ﬁnancial statement audits, very speciﬁc types of
reports are prescribed by auditing standards to communicate the auditor’s ﬁndings. We brieﬂy introduce audit reports later in this chapter. Attestation
Auditors have a rep...
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- Auditor's report, ﬁnancial statement auditing