![]() ![]() This is an Updated course for new Standards effective December 2021 and December 2022. The Generally Accepted Auditing Standards (GAAS) are a set of standards developed by the American Institute of Certified Public Accountants (AICPA) that auditors follow when conducting audits of financial statements. Note: “This course does not cover elements related to tax preparation, tax audit or tax accounting.” This course is part 1 of this series, will focus on key aspects of understanding the purpose of a FS audit, the auditor’s association with the audit, identifying and breaking down key terms of the SAS and understanding management responsibility for the audit. The Governmental Accounting Standards Board's (GASB's) Codification of Governmental Accounting and Financial Reporting Standards, section 1200.103, recognizes that governmental entities generally are subject to a variety of laws and regulations that affect their financial statements. Audits of Internal Control over Financial Reporting (ICFR) that are integrated with audits of financial statement.Audits of other historical financial information. ![]()
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