Question: Question 1a. Distinguish between auditing standards and generally accepted accounting principles and give two examples of each. 1b. Auditing standards have been criticized by different

Question

1a.

Distinguish between auditing standards and generally accepted accounting principles and give two examples of each.

1b.

  1. Auditing standards have been criticized by different sources for failing to provide useful guidelines for conducting an audit. The critics believe the standards should be more specific to enable practitioners to improve the quality of their performance. Evaluate this criticism of auditing standards, clearly stating why you agree or disagree.

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