ASB issues exposure drafts related to Sarbanes-Oxley Act. (accounting & auditing news).The Auditing Standards Board In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public has issued two exposure drafts that address provisions of the Sarbanes-Oxley Act See SOX. , including a suite of standards that provides guidance about auditing an entity's internal control over financial reporting. The comment deadline is May 15, 2003. Also exposed for comment until May 30, 2003, is a proposed standard to strengthen the quality of auditor auditor n. an accountant who conducts an audit to verify the accuracy of the financial records and accounting practices of a business or government. A proper audit will point out deficiencies in accounting and other financial operations. communications concerning internal control related matters noted in a financial statement audit. All three exposure drafts are posted on the AICPA's Web site at: www.aicpa.org/members/div/auditstd/drafts.htm |
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