The Auditing Standards Board (ASB) has redrafted almost all of the auditing sections in Codification of Statements on Auditing Standards (contained in AICPA Professional Standards) now reflecting the ASB’s established clarity drafting conventions designed to make the standards easier to read, understand, and apply.
Among other improvements, generally accepted auditing standards (GAAS) now more clearly states the objectives of the auditor and the requirements with which the auditor has to comply when conducting an audit in accordance with GAAS.