Definitions for "Generally accepted auditing standards"
Keywords:  aicpa, gaas, audit, auditor, fieldwork
Auditing standards developed by the AICPA.
Auditing Standards established by the Auditing Standards Board of the American Institute of Certified Public Accountants. All financial statement audit engagements must follow GAAS.
These are the standards established by the AICPA for the conduct and reporting of financial audits. There are 10 basic GAAS, classed into three broad categories: general standards, standards of fieldwork and standards of reporting. The GAAS set forth the objectives of the audit and establish measures that can be applied to judge the quality of its performance.