The communication will vary depending on the type and

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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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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.

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