Generally Accepted Auditing Standards
The United States Generally Accepted Auditing Standards ( GAAS ) are a group of ten standards of the American Institute of Certified Public Accountants ( AICPA ). The U.S. GAAS contain requirements for auditors to carry out audits to ensure the accuracy, consistency and transparency of audit procedures and reports. Since its emergence in 1947, only small changes were made.
The U.S. GAAS apply to the testing of U.S. companies. In the European Union, the International Standards on Auditing ( ISA) meet - sometimes supplemented by national standards such as the German IDW Auditing Standards - a similar function.
The GAAS are structured as follows: