The Accounting Review Vol. 24 No. 3 1949
AUDITING STANDARDS AND PROCEDURES.
Abstract
Distinction between auditing standards and auditing procedures is one that has not been at all clear in minds of many who have used the term. Unfortunately, some accountants have not even been aware that there is any distinction. However, this is not too surprising, it was not until February, 1941 that the word auditing standards became a recognized part of the accountant's language. At that time the short form of accountant's report or certificate recommended by the Committee on Auditing Procedure of the American Institute of Accountants was amended to include the sentence "our examination was made in accordance with generally accepted auditing standards applicable in circumstances and included all procedures which we considered necessary." This amendment to the wording of the report was made to meet the U.S. Securities and Exchange Commission's amendment 3 to its Regulation S-X which, among other things, required the auditor to state whether the audit was made in accordance with generally accepted auditing standards applicable in circumstances and whether the audit made omitted any procedure deemed necessary by the accountant under circumstances of the particular case.
- DOI
- 10.2308/tar-7062135
- Volume
- 24
- Issue
- 3
- Pages
- 265-271
- Language
- en
- Sources
- openalex crossref