Audit, Compliance and Risk Blog

GAAS Rules Are Being "Tweaked" for Calendar Year 2012 Audits

Posted by Ron Pippin on Thu, May 24, 2012

The American Institute of Certified Public Accountants (AICPA) is in the final stages of updating its generally accepted auditing standards (GAAS) for financial statement audits of companies in the United States that are not subject to the rules and regulations established by the Public Company Accounting Oversight Board (PCAOB). Several years ago the AICPA decided its auditing standards should be updated to make them clearer, and at the same time strive to conform them to the standards issued by the International Auditing and Assurance Standards Board.

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Tags: Corporate Governance, Business & Legal, Accounting & Tax, Audit Standards, AICPA, Clarity Project, GAAS