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Statements on Auditing Standards
Auditing -- Standards -- United States; Fraud; Financial statements -- United States
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Consideration Of Fraud In A Financial Statement Audit; Statement On Auditing Standards, 099, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Consideration Of Fraud In A Financial Statement Audit; Statement On Auditing Standards, 099, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Statements on Auditing Standards
Statement on Auditing Standards (SAS) No. 1, Codification of Auditing Standards and Procedures (AICPA, Professional Standards, vol. 1, AU sec. 110.02, "Responsibilities and Functions of the Independent Auditor"), states, "The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. [footnote omitted]" This Statement establishes standards and provides guidance to auditors in fulfilling that responsibility, as it relates to fraud, in an audit of financial statements conducted in accordance with generally accepted auditing standards (GAAS).