Overview of Audits

Paper Summary:

In this article, the writer explains that the Certified Public Accountant (CPA) statutory title is conferred on accountants qualified by passing the Uniform Certified Public Accountant Examination. The writer points out that the Generally Accepted Auditing Standards (GAAS) are a set of ten auditing standards developed in 1947 by the American Institute of Certified Public Accountants (AICPA), referring to general standards, standards of field work and standards of reporting. The writer discusses that the general auditing standards state that the person or persons performing the audit must have adequate technical training and proficiency as an auditor. In addition, the writer notes that the auditor must keep at all times an independent mental attitude; and finally, professional care must be exercised when planning and performing the audit and when preparing the report.

From the Paper:

"Other requirements needed to be fulfilled for a license as a CPA are stated in Section 7404, Article 149, Title 8 of New York's Education Law: in the first place, an application must be filed with the department; then, after the candidate's education and experience have been found satisfactory, a written examination must be passed; also, the fees issue must not be forgotten, as a two hundred twenty dollars fee must be paid to the department for admission to a department conducted examination and a one hundred fifteen dollars fee for each reexamination for an initial license, and also a two hundred ten dollars fee for each triennial registration period."

Sample of Sources Used:

• Certified Public Accountant (2007). Wikipedia, the free encyclopedia. Retrieved February 7, 2007 from http://en.wikipedia.org/wiki/CPA.
• New York's Education Law, Title 8, Article 149, Section 7401: Definition of practice of public accountancy. Office of the Professions. New York State Education Department. Retrieved February 8, 2007 from http://www.op.nysed.gov/article149.htm.
• License Requirements. NYS Public Accounting (2006). Office of the Professions. New York State Education Department. Retrieved February 8, 2007 from http://www.op.nysed.gov/cpalic.htm.
• New York's Education Law, Title 8, Article 149, Section 7404: Requirements for a license as a certified public accountant. Office of the Professions. New York State Education Department. Retrieved February 8, 2007 from http://www.op.nysed.gov/article149.htm.
• Rising Importance of the CPA (2006). Kelley School of Business. Retrieved February 8, 2007 from http://sagp.kelley.indiana.edu/sagpress_body.cfm?newsitem_id=383&newsissue_id=27.

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