![]() ![]() ![]() It also discusses inventories held in public warehouses and the effect of inventories on the auditor’s report.Īdherence to Generally Accepted Accounting Principles This section provides guidelines for the independent auditor in observing inventories. The section also requires that the auditor exercise professional skepticism and have reasonable assurance that the financial statements are free of material misstatement. This section describes how the auditor must exercise due professional care in the performance of the audit and the preparation of the report. This section describes how the auditor must maintain independence in all matters relating to the audit.ĭue Professional Care in the Performance of Work This section describes the formal education and experience required by the auditor. Training and Proficiency of the Independent Auditor This section describes the nature of the general standards. The section also includes distinction between the responsibilities of the auditor and management and the professional qualifications required by the independent auditor. ![]() This section describes the responsibilities and functions of the independent auditor. Responsibilities and Functions of the Independent Auditor View the AICPA's website for current copies of the standards by clicking this link. AT Section 501 - Reporting on an Entity's Internal Control Over Financial Reporting.AT Section 401 - Reporting on Pro Forma Financial Information.AT Section 301 - Financial Forecasts and Projections.AT Section 201 - Agreed-Upon Procedures Engagements.6: Evaluating Consistency of Financial Statements 5: An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements 4: Reporting on Whether a Previously Reported Material Weakness Continues to Exist 2: An Audit of Internal Control Over Financial Reporting Performed in Conjunction With an Audit of Financial Statements Superseded 1: References in Auditors' Reports to the Standards of the Public Company Accounting Oversight Board Auditing Standards for Public and Private Companies Auditing Standards Guidance ![]()
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