GAAS Guide (2021) (U.S.)
The GAAS Guide meets accounting industry standards as overseenby the AICPA's peer review system (the book reproduces a letter by the book'speer reviewer)
Authors: Mark S. Beasley, Joseph V. Carcello
Describes the engagement standards, practices, and procedures in use today, including Statements on Auditing Standards (SASs) and their Interpretations, Statements on Standards for Attestation Engagements (SSAEs) and their Interpretations, and Statements on Standards on Accounting and Review Services (SSARS) and their Interpretations.
The 2021 Edition of the GAAS Guide incorporates requirements throughout the affected standards and includes coverage of the following:
- Statements on Auditing Standards No. 133, Auditor Involvement with Exempt Offering Documents
- Statements on Standards for Attestation Engagements No. 18, Attestation Standards: Clarification and Recodification
- Statements on Standards for Accounting and Review Services No. 24, Omnibus Statement on Standards for Accounting and Review Services—2018
The 2021 GAAS Guide also highlights recently issued audit and SSARS interpretations, and it summarizes current exposure drafts of proposed new standards.
Owing to the attention focused on corporate scandals involving allegations of fraudulent financial reporting, the need for auditors to detect material misstatements due to fraud is critical. To help sensitize CPAs to issues affecting auditor responsibility for fraud, this edition contains “Fraud Pointers,” which integrate fraud issues related to a particular professional standard's requirement. This should aid CPAs in considering fraud risks throughout the entire audit engagement.
Throughout the book, highlights labeled “Important Notice for 2021” explain key elements of potential changes, including proposed redrafts of existing professional standards and other regulatory changes, alerting CPAs to issues that may affect their engagements.
The GAAS Guide meets accounting industry standards as overseen by the AICPA's peer review system (the book reproduces a letter by the book's peer reviewer).
9/30/2020 960 pages 9780808054757
|Publication Date||Aug 31, 2020|