A1-Professional Standards

Question 1

what is statements on auditing standards - SAS?

Answer 1

• SAS provide auditing standards for the audits of NON ISSUERS (private company)
• AICPA auditing standards board

Question 2

what is public company accounting oversight board auditing standards - PCAOB AS?

Answer 2

• PCAOB AS provide auditing standards for audits of ISSUERS (public company)
• Public Company Accounting Oversight Board

Question 3

what is generally accepted government auditing standards - GAGAS?

Answer 3

• GAGAS provide guidance for audits of GOVERNMENT organizations, programs, activities, and of entities that receive government funds
• Governmental Accountability Office

Question 4

what does statements on standards for attestation engagements (SSAE) apply to?

Answer 4

Examination, a review, or agreed-upon procedures report on a subject matter, or an assertion about a subject matter, that is the responsibility of another party

Question 5

what does statements on standards for accounting and review services (SSARS) apply to?

Answer 5

• preparation, compilation, and reviews of historical financial statements: nonissuers
• preparation or compilation of pro forma financial information and forecasts: nonissuers