The AICPA's Statements on Auditing Standards can be described as
A) Providing very specific guidance about the specific activities an auditor must perform on each engagement.
B) Similar to financial accounting standards in that they are developed by the government.
C) Defining the minimum standards of performance for an auditor.
D) Providing assurance that an auditor will not issue an incorrect opinion.

Question

Quizplus · Accepted Answer

The AICPA's Statements on Auditing Standards define the minimum standards that auditors must follow when conducting an audit. They do not provide specific guidance on how to perform each activity or guarantee that an incorrect opinion won't be issued. They are developed by the AICPA, not the government.

The AICPA's Statements on Auditing Standards Can Be Described as