GAAS

GAAS, or Generally Accepted Auditing Standards, are a set of rules used by auditors to ensure the quality and reliability of their work when examining financial statements. These standards ensure that audits are performed with competence, independence, and due professional care, helping users trust the accuracy and fairness of the financial reports. GAAS covers aspects like planning the audit, gathering sufficient evidence, and documenting findings. Overall, they provide a framework that promotes consistent, thorough, and ethical auditing practices across firms.