Auditing and Assurence Services Chapter 2 Solutions

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CHAPTER 2 Professional Standards LEARNING OBJECTIVES | | | | | | |Exercises, Problems, and | | |Review Checkpoints |Simulations | | |1 |45 | |1. Name the various practice standards for internal, governmental, | | | |and independent auditors and auditing firms, and identify…show more content…
"Standards" deal with measures of the quality of performance of those acts and the objectives to be attained by the use of procedures. The standards are less subject to change. The standards provide the criteria for rejecting, accepting, or modifying a procedure in a given circumstance. An example of the relative stability of standards and procedures is found in the change from non-computerized information systems to computerized systems. New procedures were required to audit computerized information systems, but auditing standards remained unchanged and were the criteria for determining the adequacy of the new procedures. The word "procedure" is used in SAS 46 (AU 390) -- "Consideration of

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