Statements of Position

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Description

This proposed Statement clarifies the auditor's responsibility for detecting errors or irregularities in an examination of financial statements in accordance with generally accepted auditing standards. It specifies that an independent auditor should plan his examination to search for errors or irregularities that would have a material effect on the financial statements. The proposed Statement also recognizes that an audit provides reasonable, but not absolute, assurance that financial statements are not materially affected by errors or irregularities. The concept of reasonable assurance is discussed and definitions of the terms errors and irregularities are given.

ISBN

ed76-04-30a

Publication Date

1976

Relational Format

Book

Keywords

Auditors -- Professional ethics -- Standards -- United States; Fraud

Disciplines

Accounting | Taxation

Comments

Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants; Exposure draft (American Institute of Certified Public Accountants), 1976, April 30

Proposed statement on auditing standards : The independent auditor's responsibility for the detection of errors or irregularities;Independent auditor's responsibility for the detection of errors or irregularities

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