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Simple English definitions for legal terms

generally accepted auditing standards

Read a random definition: Gifts to Minors Act

A quick definition of generally accepted auditing standards:

Generally Accepted Auditing Standards (GAAS) are guidelines created by the American Institute of Certified Public Accountants that outline the qualities a professional auditor should possess and the criteria they should use when examining financial statements. These standards help ensure that audits are conducted with integrity, objectivity, and due care, and that the resulting reports are accurate and reliable. In simpler terms, GAAS are rules that auditors follow to make sure they do their job well and provide trustworthy information about a company's finances.

A more thorough explanation:

Generally Accepted Auditing Standards (GAAS) are guidelines established by the American Institute of Certified Public Accountants (AICPA) that outline the professional qualities an auditor must possess and the criteria for conducting an audit and preparing reports.

These standards are used to ensure that audits are conducted with integrity, objectivity, and independence, and that the resulting reports are accurate and reliable.

  • Independence: Auditors must be independent of the company being audited, meaning they have no financial or personal interest in the company's success or failure.
  • Adequate planning and supervision: Auditors must plan their work and supervise their staff to ensure that the audit is conducted in a thorough and efficient manner.
  • Evidence: Auditors must gather sufficient and appropriate evidence to support their findings and conclusions.
  • Reporting: Auditors must prepare a report that accurately reflects their findings and conclusions, and that complies with all relevant reporting requirements.

These examples illustrate how GAAS provide a framework for auditors to conduct their work in a professional and ethical manner, and to produce reports that are useful to stakeholders in making informed decisions about the company being audited.

generally accepted accounting principles | general malice

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18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
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