Title Weekly Assignment for Chapter 2: Professional Standards 1. Define generally accepted auditing standards (GAAS). Who is responsible for developing standards for the audits of public entities? Who is responsible for developing standards for the audits of nonpublic entities? 2. What is a financial reporting framework? How is it related to the auditors' reporting responsibilities? 3. What are the four types of audit opinions? What is the conclusion of each one? "Good Luck