Question: Auditing questions 2-1 What is the difference between generally accepted accounting principles (GAAP) and AICPA generally accepted auditing standards (GAAS)? 2-3 What is a financial

Auditing questions

2-1 What is the difference between generally accepted accounting principles (GAAP) and AICPA generally accepted auditing standards (GAAS)? 2-3 What is a financial reporting framework? Why is a financial reporting framework important to a financial statement audit? 2-14 A CPA firm does not guarantee the financial soundness of a client when it renders an opinion on financial statements, nor does the CPA firm guarantee the absolute accuracy of the statement. Yet the CPA firm's opinion is respected and accepted. What is expected of the CPA firm in order to merit such confidence

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