What are Generally Accepted Auditing Standards (GAAS)? A set of standards and principles that ensures a company's audit conforms to set quality standards and meets the audit's objectives. The ...

FEW ISSUES INVOLVING THE PREPARATION of financial statements in conformity with generally accepted accounting principles have been more elusive and difficult to address and resolve—or of greater ...

An auditor's opinion on the financial statements is expressed in the form of an auditor's report. In the best case, the auditor finds that the financial statements are in accordance with generally ...

When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

THE GAO AMENDED THE AUDITOR INDEPENDENCE provisions of its generally accepted government auditing standards (GAGAS). Originally, the amendment was to be effective for audits beginning on or after ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...

An audit is a systematic process of objectively obtaining and evaluating the accounts or financial records of a governmental, business, or other entity. Whereas some businesses rely on audits ...