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What does GAAS stand for?

GAAS stands for Generally Accepted Auditing Standard

This definition appears somewhat frequently and is found in the following Acronym Finder categories:

  • Business, finance, etc.

See other definitions of GAAS

Other Resources:
We have 27 other meanings of GAAS in our Acronym Attic

Samples in periodicals archive:

Auditing Standards Board Issues Third Final Clarified SAS Resulting from Clarity Project As part of its Clarity, the Auditing Standards Board has issued its third final SAS, Preface to Codification of Statements on Auditing Standards, Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards, and Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards.
While the act requires auditors of public companies--the issuers--to follow the Public Company Accounting Oversight Board's (PCAOB) auditing standards, generally accepted auditing standards (GAAS) issued by the AICPRs Auditing Standards Board (ASB) apply to all audits of non-SEC-registered entities--nonissuers.
The process of conducting annual financial audits is reviewed by a public accounting firm to confirm that the methods and techniques being employed are effective and that the program follows generally accepted auditing standards applicable to the audit of Federal Reserve Banks.
In addition, he stated that definitions of internal control by the FCPA and the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) were based on a definition in the AICPA's generally accepted auditing standards.
Also recommended are reviews of the CPA's workpapers and any management letters issued in accordance with generally accepted auditing standards.
Proposed Preface to Codification of Statements on Auditing Standards, Principles Governing an Audit Conducted in Accordance With Generally Accepted Auditing Standards and Proposed Statement on Auditing Standards, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards.