Relationship between GAGAS and
Other Professional Standards
|
GAO-03-673G Government Auditing Standards > Chapter 1 Introduction > Relationship between GAGAS
and Other Professional Standards
1.09 GAGAS may be used in conjunction with professional standards issued by other authoritative bodies. For example, the American Institute of Certified Public Accountants (AICPA) has issued professional standards that apply in financial audits and attestation engagements performed by certified public accountants (CPA). GAGAS incorporate the AICPA’s field work and reporting standards and the related statements on auditing standards for financial audits unless specifically excluded, as discussed in chapters 4 and 5. GAGAS incorporate the AICPA’s general standard on criteria, and the field work and reporting standards and the related statements on the standards for attestation engagements, unless specifically excluded, as discussed in chapter 6. To meet the needs of users of government audits and attestation engagements, GAGAS also prescribe requirements in addition to those provided by the AICPA for these types of work.
1.10 Other professional standards that may be used by auditors are issued by such bodies as the Institute of Internal Auditors (Codification of the Standards for the Professional Practice of Internal Auditing, The Institute of Internal Auditors, Inc.) and the American Evaluation Association (Guiding Principles for Evaluators, a report from the American Evaluation Association Task Force on Guiding Principles for Evaluators; The Program Evaluation Standards, Joint Committee on Standards for Education Evaluation; and Standards for Educational and Psychological Testing, American Psychological Association.) These other professional standards are not incorporated into GAGAS, but can be used in conjunction with GAGAS. To the extent of any inconsistencies between the standards, GAGAS should prevail as the controlling (authorative) source if GAGAS are cited in the report.
|