| NYSSCPA.org Newsbrief |
| ||
| ||
| GAO Releases New Auditor Independence Standards WASHINGTON - The General Accounting Office (GAO) announced significant changes to the auditor independence requirements under Government Auditing Standards on Jan. 25. The most significant change relates to the rules associated with non-audit, or consulting services. The change amends the second of two principles that oversees auditor independence. The new principle reads: "Auditors should not audit their own work or provide non-audit services in situations where the amounts or services involved are significant/material to the subject matter of the audit." The changes are applicable for periods beginning on or after Oct. 1, 2002, although early implementation is encouraged. The GAO changes were made to the "Yellow Book," which covers federal entities and those organizations receiving federal funds. To see the entire new audit standard, visit http://www.gao.gov/govaud/yb2002ed.pdf. -- NYSSCPA.org News Staff | |
|
Home | About Us | Continuing Education | Future CPAs | Government Affairs | Professional Resources | Publications | Sound Advice | Tax Resources Chapters | Committees | Member Center | Events Calendar | Classifieds | Careers | E-zine Subscriptions | The Trusted Professional | The CPA Journal  Search | Site Map | Become a Member | Jobs | Press Room | Contact Us | Feedback ©1997 - 2008 New York State Society of Certified Public Accountants. Legal Notices | |