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The proposed Statement provides guidance to the auditor making an examination in accordance with generally accepted auditing standards on the considerations and procedures applicable to planning and supervision, including preparing audit programs, obtaining knowledge of the entity's business, and dealing with differences of opinion among firm personnel. The Statement, if adopted, would require an auditor to prepare a written audit program that sets forth in reasonable detail the audit procedures that the auditor believes are necessary to accomplish the objectives of the examination. It would also require the auditor to obtain a knowledge of matters that relate to the nature of the entity's business, its organization, and its operating characteristics, and to consider matters affecting the industry in which the entity operates.
Auditing -- Standards --United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Executive Committee, "Proposed statement on auditing standards : Planning and supervision;Planning and supervision; Exposure draft (American Institute of Certified Public Accountants), 1977, Aug. 31" (1977). Statements of Position. 380.