The AICPA issued eight Statements on Auditing Standards (SAS 104-111) that address risk assessment with respect to:
A)The design and performance of audit procedures to respond to assessed risks
B)Whether the standards close the expectation gap
C)The role and responsibilities of the audit committee in preventing fraud
D)All of the above

Question

Quizplus · Accepted Answer

The eight Statements on Auditing Standards (SAS 104-111) issued by the AICPA address risk assessment in the design and performance of audit procedures to respond to assessed risks. They do not specifically address the expectation gap or the role of the audit committee in preventing fraud.

The AICPA Issued Eight Statements on Auditing Standards (SAS 104-111)