The GAAS Guide describes the engagement standards, practices and procedures in use today--including Statements on Auditing Standards (SASs) and their Interpretations, Statements on Standards for Attestation Engagements (SSAEs) and their Interpretations, and Statements on Standards on Accounting and Review Services (SSARSs) and their Interpretations and their relationship to the PCAOB's standards.Obviously the auditor cannot simply walk away from these engagements ( assuming they are auditable) but, rather, must develop a commonsense approach to the situation. The Audit Practice Guide describes the following as an approach that could be useful under this circumstance: ... For example, the aging of accounts receivable in order to estimate the amount of uncollectible accounts is based on aanbsp;...
|Title||:||GAAS Guide 2009|
|Author||:||Mark S. Beasley, Joseph V. Carcello|
|Publisher||:||CCH - 2008|