Question

Generally accepted auditing standards are Group of answer choices 1. Required procedures to be used to gather evidence to support financial statements. 2. Policies and procedures designed to provide reasonable assurance that the CPA firm and its personnel comply with professional standards. 3. Pronouncements issued by the Auditing Standards Board. 4. Rules acknowledged by the accounting profession because of their universal application.

Answer 1

Answer:

"1"

Explanation:

Generally accepted auditing standards are established rules and procedures guiding the conduct of an accountant during the audit of the financial statements of an organization.

It helps to confirm the quality of audit reviews conducted and reports generated by the auditor.

It covers field work , general standards and reporting.

It requires the auditor to have technical training and skills , due professional care and be objective in his engagements as an auditor.