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
Famous quotes containing the words statements on, statements and/or standards:
“He admired the terrible recreative power of his memory. It was only with the weakening of this generator whose fecundity diminishes with age that he could hope for his torture to be appeased. But it appeared that the power to make him suffer of one of Odette’s statements seemed exhausted, then one of these statements on which Swann’s spirit had until then not dwelled, an almost new word relayed the others and struck him with new vigor.”
—Marcel Proust (1871–1922)
“The statements of science are hearsay, reports from a world outside the world we know. What the poet tells us has long been known to us all, and forgotten. His knowledge is of our world, the world we are both doomed and privileged to live in, and it is a knowledge of ourselves, of the human condition, the human predicament.”
—John Hall Wheelock (1886–1978)
“There are ... two minimum conditions necessary and sufficient for the existence of a legal system. On the one hand those rules of behavior which are valid according to the system’s ultimate criteria of validity must be generally obeyed, and on the other hand, its rules of recognition specifying the criteria of legal validity and its rules of change and adjudication must be effectively accepted as common public standards of official behavior by its officials.”
—H.L.A. (Herbert Lionel Adolphus)