Statements on auditing standards, commonly abbreviated as SAS, provide guidance to external auditors on generally accepted auditing standards (abbreviated as GAAS) in regards to auditing an entity and issuing a report. They are usually issued by the certified public accountant authoritative body in the region where the standards apply, such as the American Institute of Certified Public Accountants in the United States.
A particularly exciting SAS is SAS72, which excites US Capital Markets groups and others in accounting firms due to its interaction with S144a of the US Securities Act.
Read more about Statements On Auditing Standards: List of Local Statements On Auditing Standards
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