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Accounting and Auditing Research and Databases: Practitioner's Desk Reference by Thomas C. Pearson, Natalie Tatiana Churyk, Thomas R. Weirich

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Summary

This chapter has presented an overview of assurance services, the auditing standard-setting environment, standards for international audits, compilation and review services, and professional ethics. Familiarity with this information, in particular the types of authoritative pronouncements that exist, will aid the practitioner in the research process.

In researching an accounting or assurance services issue, the practitioner must use professional judgment in the decision-making process. Experience is undoubtedly the primary factor in developing good professional judgment. However, this text presents a research methodology that should aid in the development and application of professional judgment.

Notes

1. AICPA Professional Standards, vol. 2, section CS-100.05.

2. AICPA Professional Standards, vol. 1, section AT–Introduction.

3. AICPA Professional Standards, vol. 1, section AT 100.01.

4. AICPA Professional Standards, section ET.

5. AICPA Professional Standards, section ET.

6. Ibid.

7. AICPA Codification of Statements on Auditing Standards (Clarified), sections AU-C A27–A31.

8. The distinction between a public versus a nonpublic client is based on whether the entity's securities are traded publicly on a stock exchange or in the over-the-counter market.

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