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Auditing and Assurance Services
Auditing and Assurance Services Louwers Ramsay Sinason Strawser
Auditing and Assurance Services Louwers Ramsay Sinason Strawser 4th
Auditing and Assurance Services Louwers Ramsay Sinason Strawser 4th Solutions Manual
Auditing and Assurance Services Louwers 4th Edition Solutions Manual
CHAPTER 2
Professional Standards
SOLUTIONS FOR REVIEW CHECKPOINTS
2.1 For independent (external) auditors of financial statements, practice standards are issued by
the AICPA Auditing Standards Board (in the form of Statements on Auditing Standards) and the
Public Company Accounting Oversight Board (in the form of Auditing Standards). Statements
on Auditing Standards are appropriate for the audits of nonpublic entities, while Auditing
Standards are appropriate for the audits of public entities.
For governmental auditors, the Government Accountability Office issues Government Auditing
Standards (also known as the “Yellow Book”).
For internal auditors, the Institute of Internal Auditors issues Statements of Internal Auditing
Standards (also known as the “Red Book”).