The Statements on Auditing Standards issued by the Auditing Standards Board:
A) are the equivalent of laws for audit practitioners.
B) are optional guidelines which an auditor may choose to follow or not follow when conducting an audit.
C) must be followed in all situations.
D) are interpretations of GAAS.

Question

Quizplus · Accepted Answer

The Statements on Auditing Standards (SAS) issued by the Auditing Standards Board are interpretations of Generally Accepted Auditing Standards (GAAS), providing auditors with guidance on how to apply the broad principles of GAAS in specific situations.

The Statements on Auditing Standards Issued by the Auditing Standards