2/21/25
U.S. GAAS Generally Accepted Auditing Standards (GAAS) are a set of guidelines and principles that auditors follow when conducting audits of financial statements. These standards ensure that audits are performed with consistency, reliability, and accuracy. The purpose of GAAS is to provide a framework for auditors to evaluate financial statements in a systematic and objective manner, giving stakeholders (like investors, regulators, and the public) confidence in the integrity of financial reporting.
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U.S. GAAS – General Standards
1. The auditor must have adequate technical training and proficiency to preform the audit. 2. The auditor must maintain independence in mental attitude in all matters relating to the audit. 3. The auditor must exercise due professional care in the performance of the audit and the preparation of the report.
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