In reviewing the Generally Accepted Auditing Standards (GAAS), there are three main conduct expectations identified- independence, due care, and technical training and proficiency. Explain which of these 3 standards you believe is most important and why. Be sure to explain-in your own words-what the standard means. Provide an example of such professional experiences or requirements.

In reviewing the Generally Accepted Auditing Standards (GAAS), there are three main conduct expectations identified- independence, due care, and technical training and proficiency. Explain which of these 3 standards you believe is most important and why. Be sure to explain-in your own words-what the standard means. Provide an example of such professional experiences or requirements.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Audit should be performed by persons having adequate training, experience and competence is referred as: Integrity, Objectivity and Independency Confidentiality Professional behavior Professional competence and due care