application uhd oduction, ents, and objectives, definitions, require- financial rated SASs and the 4.02GAGAS establishes requirements for performing financial audits in addition to the requirements contained in the AICPA standards. Auditors should comply with these additional requirements, along with the incorporated SASs, when citing GAGAS in and other explanatory material. Auditors performing audits in accordance with GAGAS should comply with the incorpo additional requirements in this chapter.... their reports. In the auditor's (or attestation provider's) report, when stating that an engagement was performed in accordance with G complied with AICPA standards. Because GAGAS incorporates AICPA standards by reference, it is understood that an engagement performed in accordance with GAGAS also complies with AICPA standards.17 AGAS, it is not necessary to state that the engagement also Following is a brief Now YOU Try exercise intended to reinforce the sources of guidance that must be followed under GAGAS Understanding Compliance with GAGAS Review the excerpt from par. 4.01 and the preceding discussion, and respond to the following. 1. For an auditor to comply with GAGAS, he or she must also comply with the AICPA's Now YOU Try 10.12 2 Specifically, an auditor must comply with all sections of the AICPA's SAS, including the introduction, objectives, When citing compliance with GAGAS in the auditor's report, it is not necessary to also state that the audit complied with AICPA standards because: 3. The Vallout Beek is accessible on the GAO's website, as follows