[zerohedge]

This concept has always given me trouble.

PCAOB governs who and what rules/standards do they issue? Same with AICPA, FASB, ISA.

WHo governs GAAS, SSAS, SSARS?

For some reason I could never keep this straight. Lets work together to sort all this out and have it in one location.

Reg - 2/24/12 passed
BEC - 4/3/12 passed
FAR - round 2 7/1/12 passed
AUD - round 2 11/01/12

Using Becker, wiley, and NINJA.

[Anonymous]

Good idea….this will be good to know for the research question on which publication to look 🙂

The Securities and Exchange Commission (SEC) has authority over the Public Company Accounting Oversight Board (PCAOB). The PCAOB was created as a result of the whole Enron stuff to regulate public companies (issuers). The PCAOB only applies to issuers. Remember on the audit report, if it is of an issuer, the scope paragraph will reference PCAOB instead of GAAS.

The Rules of Profession Conduct (ET), is governed by the AICPA and covers Rule 101 Independence, Rule 102 integrity/objectivity, etc….

Statements on Auditing Standards (SAS) was issued by the Auditing Standards Board (ASB). This is where you would find GAAS.

Statements on Standards for Attestation Engagements (SSAE) are issued by the AICPA. They mainly deal with attestation stuff, such as, examinations, reviews, and agreed-upon procedures.

Statements on Standards for Accounting and Review Services (SSARS) apply to compilations and reviews of nonpublic company financial statements. They DO NOT COVER basic stuff like preparing trial balance sheets, assisting in adjustments, preparing tax returns, etc…

Statement on Standards for Consulting Services (SSCS) apply to consulting engagements that do not require attestation or independence.

[Anonymous]

Don't forget IFRS are issued by the International Accounting Standards Board!

[Author]

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