ACC Auditing Standards Question

Accounting
Tutor: None Selected Time limit: 1 Day

What are some problems with the Generally Accepted Auditing Standards? Explain?

Jun 17th, 2015

Thank you for the opportunity to help you with your question!

some of the problems are as stated below;

General Standards

  1. The audit is to be performed by a person or persons having adequate technical training and proficiency as an auditor.
  2. In all matters relating to the assignment, an independence in mental attitude is to be maintained by the auditor or auditors.
  3. Due professional care is to be exercised in the performance of the audit and the preparation of the report.

Standards of Field Work

  1. The work is to be adequately planned and assistants, if any, are to be properly supervised.
  2. A sufficient understanding of internal control is to be obtained to plan the audit and to determine the nature, timing, and extent of tests to be performed.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 17th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Jun 17th, 2015
...
Jun 17th, 2015
Feb 24th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer