Question: 1.Why are there GAAS?What problems do they solve?How are they developed? 2. What are the things auditors are responsible for (the responsibilities principle)?How does the

1.Why are there GAAS?What problems do they solve?How are they developed?

2. What are the things auditors are responsible for (the responsibilities principle)?How does the principle help ensure high quality audits?

3. What are the elements of the performance principle?How does it ensure high quality audits?

4. What does the reporting principle direct auditors to do?How does it influence the outcomes of audits?

5. What do professional services firms do to make sure that their audit work is of high quality and meets professional standards?

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