audit- confused on one very simple thing

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  • #2283168
    Ralphie Dos Nachos
    Participant

    hey guys, maybe as I go through audit I’d understand this more but is GAAS standards for both nonissuers and issuers? and its just nonissuer reports that reference GAAS while Issuers have to follow GAAS and PCAOB standards? but only mention PCAOB in their reports?

    FAR - 76

    AUD - 89

    BEC - 84

    REG - 86

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  • #2288187
    Ralphie Dos Nachos
    Participant

    bump

    FAR - 76

    AUD - 89

    BEC - 84

    REG - 86

    #2288190
    pakff
    Participant

    Here is how it works. PCAOB provides generally accepted auditing standards for the audits of issuers, and SAS (Statements on Auditing Standards) provides standards for the audits of nonissuers. However, GAAS aka generally accepted auditing standards should be followed in both cases. Hope this makes sense.

    AUD - 76
    BEC - 86
    FAR - 82
    REG - 87
    No pain, no gain
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