Generally Accepted Auditing Standards, or GAAS are sets of standards against which the quality of audits are performed and may be judged. Several organizations have developed such sets of principles, which vary by territory.
- The auditor must have adequate technical training & proficiency to perform the audit.
- The auditor must maintain independence (in fact and appearance) in mental attitude in all matters related to the audit.
- The auditor must exercise due professional care during the performance of the audit and the preparation of the report. The auditor must diligently perform the audit and report any misleading statements in the report.
Read more about Generally Accepted Auditing Standards: ISAs
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