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AC450T053CH1081805. AC 450 CH. 1. AC450T053CH1081805. Assurance: Quality of Info Consulting: Recs. AC450T053CH1081805. Assurance Attest Audit. AC450T053CH1081805. Attest Subject Matter is resp. of another party Fin, Nonfin Written assurance Attestor. AC450T053CH1081805.

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AC 450 CH. 1

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AC450T053CH1081805

AC 450CH. 1


AC450T053CH1081805

  • Assurance: Quality of Info

  • Consulting: Recs


AC450T053CH1081805

  • Assurance

  • Attest

  • Audit


AC450T053CH1081805

  • Attest

  • Subject Matter is resp. of another party

  • Fin, Nonfin

  • Written assurance

  • Attestor


AC450T053CH1081805

3 Levels of assurance in Attest,

+

<>

0


AC450T053CH1081805

  • F/S Audit

  • Attestor

  • Subject Matters


AC450T053CH1081805

  • Demand for F/S Audit

  • Acts

  • risk of M misstmt

  • Unbiased report


AC450T053CH1081805

Def of Auditing:

Auditing is a systematic process

(Cont.)


AC450T053CH1081805

of objectively

(Cont.)


AC450T053CH1081805

obtaining & evaluating evidence(Cont.)


AC450T053CH1081805

Regarding assertions (Cont.)


AC450T053CH1081805

about economic actions & events (Cont.)


AC450T053CH1081805

to ascertain the degree of correspondence (Cont.)


AC450T053CH1081805

between those assertions and established criteria (Cont.)


AC450T053CH1081805

and comm. results to interested users.


AC450T053CH1081805

Std SettingAICPA: ASB, SASs(Cont)


AC450T053CH1081805

ARSC: SSARS(Cont)


AC450T053CH1081805

PCAOB: AS (Cont)


AC450T053CH1081805

CPCAF (formerly POB): (Cont)


AC450T053CH1081805

GAO (Cont)


AC450T053CH1081805

Types of other Audits

  • Operational

  • Compliance


AC450T053CH1081805

Standards

  • SASs

  • SSAEs

  • SSARSs

    (CONT)


AC450T053CH1081805

Standards

  • QC

  • ET

  • AS

  • Others


AC450T053CH1081805

Types of Auditors

  • Indep.

  • Internal

  • Govt.


AC450T053CH1081805

CPA, Cont.

  • License 3 Es

  • Certif.

    (End)


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