Business Commons^™

Proposed Statement On Auditing Standards : Generally Accepted Auditing Standards : (Supersedes "Generally Accepted Auditing Standards" Of Statement On Auditing Standards No. 1, Codification Of Auditing Standards And Procedures, Aicpa, Professional Standards, Vol. 1, Au Sec. 150);Generally Accepted Auditing Standards : (Supersedes "Generally Accepted Auditing Standards" Of Statement On Auditing Standards No. 1, Codification Of Auditing Standards And Procedures, Aicpa, Professional Standards, Vol. 1, Au Sec. 150); Exposure Draft (American Institute Of Certified Public Accountants), 2001, May 4, American Institute Of Certified Public Accountants. Auditing Standards Board, American Institute Of Certified Public Accountants. Generally Accepted Auditing Standards Hierarchy Task Force

Exposure Drafts, Comment Letters, and Statements of Position

The body of auditing literature grew and evolved considerably during the twentieth century. American Institute of Certified Public Accountants (AICPA) boards and committees have issued ninety-three Statements on Auditing Standards (SASs), some of which have been superseded, and numerous auditing interpretations. The AICPA also has published Auditing Statements of Position, Audit and Accounting Guides and numerous other publications containing guidance of varying authority on how to conduct an audit of financial statements in accordance with generally accepted auditing standards (GAAS). Although the AICPA has, on occasion, realigned and clarified the authority of these publications, some uncertainty remains in the minds …