Eight new Risk Assessment Auditing Standards.

• Position: AICPA News - American Institute of Certified Public Accountants - Brief article

The AICPA Auditing Standards Board has issued eight new Statements on Auditing Standards, SAS No. 104-111, collectively dubbed the Risk Assessment Standards.

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The statements tighten the link between audit procedures and the risk of material misstatement, whether caused by fraud or error, and are effective for audits of financial statements for periods beginning on...