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Term: Accounting -> Generally Accepted Auditing Standards
Term:

Generally Accepted Auditing Standards

Definition:

The ten auditing standards adopted by the membership of the AICPA. Auditing standards differ from audit procedures in that "procedures" relate to acts to be performed, whereas "standards" deal with measures of the quality of the performance of those acts and the objectives to be attained by use of the procedures undertaken.

Related terms:

Pre-encumbrance

Qualified opinion

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