Auditing Final - TXB

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  1. Generally Accepted Auditing Standards' four reporting standands
    • C onsistency
    • G AAP
    • O pionion
    • D isclosure
  2. Going Concern
    • Company will continue to operate for the next operating cycle or the next 12 months
    • auditors typically provide their opinions on financial statements that have been prepared on a going-concern basis.
  3. Financial statements assurances have ranged from
    • Audit - give positive assurance (explicit statement as to whether the financial statements are presented fairly-requires auditors to gather sufficient evidence to render an opinion)
    • Review - give negative assurance (ask questions and do analytical procedures)
    • Compilations - preparing financial statements
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Auditing Final - TXB
Auditing Final Prep
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