![]() AICPA auditing publications that have been reviewed by the AICPA Audit and Attest Standards staff are presumed to be appropriate. ![]() ![]() GAAS provide the standards for the auditors' work in fulfilling their objectives. The auditor is responsible for planning, conducting, and reporting the results of an audit according to GAAS. 95 Generally Accepted Auditing Standards was clarified to state that appendixes to the SASs do not constitute auditing standards, but are classified. 128 are effective for audits of financial statements for periods ending on or after December 15, 2012, and December 15, 2014, respectively. As of February 2014, this effort is complete. The board finalizedwith some changes Proposed Statement on Auditing Standards (SAS), Special ConsiderationsAudits of Group Financial Statements (Including the Work of. To address concerns over the clarity, length, and complexity of its standards, the Auditing Standards Board established clarity drafting conventions and redrafted all its SASs in accordance with those conventions. The auditor must exercise professional judgment in planning and performing an audit of financial statements. The AICPA’s Auditing Standards Board (ASB) voted to finalize its proposal on group audits during a video meeting held from Jan. The purpose of an audit of financial statements is confined to the expression of an opinion on the financial statements being audited. The form and content of the financial statements are management's responsibility, even if the auditor prepared them or participated in their preparation. Financial statements are prepared by management with oversight from those charged with governance. The Auditing Standards Board (ASB) has redrafted all of the auditing sections in Codification of Statements on Auditing Standards (contained in AICPA Professional Standards). Auditors of government entities and entities that receive government awards use our Government Auditing Standards commonly referred to as generally accepted government auditing standards (GAGAS) or the Yellow Book to perform their audits and produce their reports. AU-C 200 describes the auditor's overall responsibilities when conducting a Generally Accepted Auditing Standards (GAAS) audit, including the auditor's overall objectives and the nature and scope of the audit.
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