Legal glossary
What is Generally Accepted Auditing Standards (GAAS) information?
Generally Accepted Auditing Standards (GAAS) information — A set of accounting and auditing standards, rules, conventions, guidelines, etc., that are written, approved and issued by the American Institute of Certified Public Accountants that establish the boundaries of professional auditing of business or accounts. Financial information found in corporate annual reports are usually certified by the corporate auditor (usually an independent auditor and…
A set of accounting and auditing standards, rules, conventions, guidelines, etc., that are written, approved and issued by the American Institute of Certified Public Accountants that establish the boundaries of professional auditing of business or accounts. Financial information found in corporate annual reports are usually certified by the corporate auditor (usually an independent auditor and not an employee) to comply with GAAS.