What are the statements of audit standards?

Audit standards are written instructions provided by the US Institute of Certified Public Accountants (AICPA) to help external auditors during the audit process. These statements reflect the correct application or instructions for the application of generally accepted audit standards (GAA) to audit cycles of non -public companies. Publicly held companies are subject to auditing instructions provided by the Securities and Stock Exchange Commission (SEC) and the Sarbanes-Oxley Act. and accounting companies. These standards date back to 1972, with the latest standard issued in December 2009. AICPA updates the statement of audit standards as a new financial account and auditors may need more information for proper use of GAA during the company's audit. Audit standards can bI have a relatively detailed depending on the problem that covers or attempts to explain the audit accountant. AICPA also issues another statement of the audit; These additional statements include standards for orders and contracts and quality control standards maintained by a public accountant.

AICPA commands on attestations standards describe in detail how the auditors should interact with companies and their control groups in the discussion of the audit process. AICPA also provides information on the consucchecement of the company's audits, to provide the company's exact documentation of deviations or material incorrect offices found during the audit and review of internal control of the organization concerning financial information. Auditing Internal Controls is a new feature of the audit cycle; Many companies implemented internal checks after the main accounting scandals in 2001 were discoveredCompanies like Enron, Worldcom and Sunbeam.

Arthur Andersen, one of the original Big Eight accounting companies, faced significant problems regarding its fault in the ENRON and Worldcom scandals. Breach of professional accounting standards issued by Arthur Anderson has led to the introduction of quality control standards for public accountants. These quality control standards ensure public accounting companies maintain independence and integrity in the implementation of audits and claim statements on audit standards on their clients' accounts.