Generally accepted auditing standards are
A)specific actions performed by auditors during an examination.
B)standards that guide the conduct of an audit examination.
C)legal requirements auditors must observe during the audits of issuers.
D)standards used by entities in deciding whether to engage or retain the services of auditors.

Question

Quizplus · Accepted Answer

Generally accepted auditing standards (GAAS) refer to the standard framework for conducting audits in accordance with professional standards. They guide auditors in planning, performing, and reporting on audit engagements. GAAS are not specific actions performed by auditors during an examination or legal requirements, and they are not used by entities in deciding whether to engage or retain the services of auditors.

Generally Accepted Auditing Standards Are