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- Title
A Selective Comparison of Requirements of Statement on Auditing Standards Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards (AU 200)With Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With International Standards on Auditing (ISA 200)
- Authors
Davis, Robert R.
- Abstract
In 2002, the Board of Directors of the American Institute of Certified Public Accountants (AICPA) announced that AICPA auditing standards would be converged with International Standards of Auditing (ISAs) which are issued by the International Audit & Assurance Standards Board (IAASB). This policy statement acknowledged that the world has become a global marketplace for goods and services and that CPAs in the U.S. will discover that they may be required to perform engagements in accordance with ISAs in order to serve their international businesses clients. In 2006, the Auditing Standards Board (ASB) declared that it was going to redraft existing Generally Accepted Auditing Standards (GAAS) commonly known as Statements on Auditing Standards (SAS) in accordance with the IAASB' Clarity Project (Project) and would remove inconsistencies with ISAs to the extent possible. This study will highlight the essential commonalities along with contrasts between the revised U.S. auditing standards and international auditing pronouncements.
- Publication
Proceedings of the Northeast Business & Economics Association, 2012, p69
- ISSN
1936-203X
- Publication type
Conference Proceeding