Auditing Standards 2- 3 pages

Auditing Standards
Introduction and Purpose of Assignment
In order for stakeholders to have confidence in the financial information provided, auditing needs to conform to set standards. Generally Accepted Auditing Standards (GAAS) are guidelines for auditors. The Public Company Accounting Oversight Board (PCAOB) is appointed and overseen by the Securities and Exchange Commission (SEC), and establishes standards for auditing. This paper reviews the various standards set for auditors.

Analyze the effect of the      major auditing standards in the U.S. on audit evaluation. (1.2)

Theory and Context
GAAS falls into three categories: 1) general standards, 2) standards of field work, and 3) reporting standards. General standards address the qualifications of an auditor and the minimum standards of the audit product. Standards of field work cover the auditor’s performance of their job. Standards of reporting include the information that needs to be considered by the auditor prior to issuing the audit report.
Executive finance. (2012). 3 generally accepted auditing standards [Video file]. Retrieved from
MossAdamsLLP. (2013). The changing SOX landscape: How PCAOB inspections will change SOX in 2013 [Video file]. Retreived from

In a 2-3 page paper:


Explain the two auditing       standards used in the U.S.
Discuss the auditors’       responsibility in evaluating company adherence to standards.

i. Identify the key elements of the auditors’ standard report that provide information of their evaluation.

A minimum of two scholarly      resources is required.

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