Podcast
Questions and Answers
What is the main purpose of the AICPA Code of Professional Conduct?
What is the main purpose of the AICPA Code of Professional Conduct?
What do the Statements on Quality Control Standards (SQCS) primarily guide CPA firms on?
What do the Statements on Quality Control Standards (SQCS) primarily guide CPA firms on?
What activities are included in the preparation or compilation of financial information for nonissuers?
What activities are included in the preparation or compilation of financial information for nonissuers?
Which of the following best describes a quality control system as per AICPA guidelines?
Which of the following best describes a quality control system as per AICPA guidelines?
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How does the AICPA Code of Professional Conduct affect the profession?
How does the AICPA Code of Professional Conduct affect the profession?
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What must CPA firms demonstrate according to the Statements on Quality Control Standards?
What must CPA firms demonstrate according to the Statements on Quality Control Standards?
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What is the relationship between the AICPA Code of Professional Conduct and public trust?
What is the relationship between the AICPA Code of Professional Conduct and public trust?
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Which standard provides generally accepted auditing standards for audits of issuers?
Which standard provides generally accepted auditing standards for audits of issuers?
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Which of the following is NOT applicable to the Statements on Auditing Standards (SAS)?
Which of the following is NOT applicable to the Statements on Auditing Standards (SAS)?
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What type of engagements do Statements on Standards for Attestation Engagements (SSAE) provide guidance for?
What type of engagements do Statements on Standards for Attestation Engagements (SSAE) provide guidance for?
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Which standard is specifically designed for financial or performance audits of government entities?
Which standard is specifically designed for financial or performance audits of government entities?
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Which standards provide guidance for reviews of interim financial information and letters to underwriters?
Which standards provide guidance for reviews of interim financial information and letters to underwriters?
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What type of reports does SAS provide guidance for?
What type of reports does SAS provide guidance for?
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Which standard is applicable to the guidance for attestation engagements?
Which standard is applicable to the guidance for attestation engagements?
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Which standard provides guidelines for unaudited financial statements of nonissuers?
Which standard provides guidelines for unaudited financial statements of nonissuers?
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Study Notes
Auditing Standards
- SAS (Statements on Auditing Standards) are issued by the AICPA Auditing Standards Board and are generally accepted auditing standards applicable to non-issuers.
- PCAOB AS (Public Company Accounting Oversight Board Auditing Standards) are issued by the PCAOB and are generally accepted auditing standards applicable to issuers.
- GAGAS (Generally Accepted Government Auditing Standards) are issued by the Governmental Accountability Office and are applicable to audits of federal government organizations, programs, activities, and entities receiving government funds.
Other Engagements
- SSAE (Statements on Standards for Attestation Engagements) are issued by the AICPA and provide guidance for attest engagements.
- SSARS (Statements on Standards for Accounting and Review Services) are issued by the AICPA Accounting and Review Services Committee and provide guidance for unaudited financial statements or unaudited financial information of non-issuers.
Professional Conduct and Quality Control
- AICPA Code of Professional Conduct provides AICPA members with guidelines for professional conduct and behavior and aims to maintain high standards in the profession.
- SQCS (Statements on Quality Control Standards) are issued by the AICPA and provide guidance to CPA firms on quality control systems designed to ensure the firm complies with professional standards, legal, and regulatory requirements.
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Description
Test your knowledge on various auditing standards including SAS, PCAOB AS, GAGAS, SSAE, and SSARS. This quiz covers the fundamental principles and applications of auditing standards for both issuers and non-issuers in various contexts.
