The audits inspected were required to be conducted under generally accepted auditing standards issued by the AICPA, and not under PCAOB standards.
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
We have 27 other meanings of GAAS in our Acronym Attic
- Gastonia Area Amateur Radio Club (North Carolina)
- GALS (Globally Asynchronous Locally Synchronous) Architecture for Algorithm-Specific Real-Time Power-Aware Applications
- Grants Adabas Access and Retrieval Package
- Global Atmospheric and Aerosol Radiation Study
- Government Astronomy Administration Round Table
- Guardian Angel Air-Deployable Recovery Vehicle (US Air Force)
- Gallium Arsenide
- Game as a Service
- General Arts and Science (college program; Canada)
- General Atomics Aeronautical Systems Inc
- Guandong Academy of Agricultural Sciences (China)
- Guyot Adrien & Arnold Song (band)
- Greater Akron Amateur Soccer Association
- Gallium Aluminum Arsenide Semiconductor Diode
- Gallium Arsenide Field Effect Transistor
- Guardianship and Administration Tribunal (Queensland, Australia)
- General Aviation and Air Taxi Activity (FAA survey)
- Global Alliance on Accessible Technologies and Environments
- Greater Austin Area Telecommunications Network (Texas)
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.