Who establishes auditing standards applicable to private companies and other non- public entities in the U.S.?
THE CPA PROFESSION b. The Responsibilities principle underlying AICPA auditing standards includes a requirement that (1) the audit be adequately planned and supervised. (2) the auditor’s report state whether or not the financial statements conform to generally accepted accounting principles. (3) professional judgment be exercised by the auditor. (4) informative disclosures in the financial statements […]