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The Ten Generally Accepted Auditing Standards Are Listed Below in Paraphrased

Question 84

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The ten generally accepted auditing standards are listed below in paraphrased form. Indicate the category to which each statement belongs.

Premises:
An understanding of the internal control structure is to be obtained.
The auditor should be unbiased during the examination.
The financial statements should be in conformity with GAAP.
The financial statements contain adequate disclosures.
The auditor should have adequate technical training and proficiency as an auditor.
Sufficient competent evidential matter is to be obtained.
Due professional care is to be exercised by the auditor.
The work should be adequately planned and assistants should be properly supervised.
The report shall contain an expression of opinion.
Circumstances in which GAAP have not been consistently observed should be identified.
Responses:
G-General
F-Field work
R-Reporting

Correct Answer:

An understanding of the internal control structure is to be obtained.
The auditor should be unbiased during the examination.
The financial statements should be in conformity with GAAP.
The financial statements contain adequate disclosures.
The auditor should have adequate technical training and proficiency as an auditor.
Sufficient competent evidential matter is to be obtained.
Due professional care is to be exercised by the auditor.
The work should be adequately planned and assistants should be properly supervised.
The report shall contain an expression of opinion.
Circumstances in which GAAP have not been consistently observed should be identified.
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