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I was wondering if anyone can explain to me the difference between GAAS , SA’s and A’S?
Just started studying for audit and i understand that SA’s are for Private Company (NonIssuers) and A’S are for Public Companies (Issuers). My question is , what is GAAS. I referred to my old audit textbook and its basically the combination of those two being referred as GAAS (Generally Accepted Auditing Standards). So is that a new auditing standards by the AICPA or PCAOB, or is that just a general term being used to refer to all the auditing standards that follow underneath that, which would be SA’S and A’S.
Just wanted some clarification, since i could not find anything in Becker about it, so far.
Thanks.
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