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- Title
AUDITING STANDARDS AND THE LAW.
- Authors
Berryman, R. G.
- Abstract
Current auditing standards are not in conflict with the law and are to some extent supported by the law. The personal standards appear to be based on legal concepts recognized by statutory and case law. The field work standards are supported by SEC opinions and by legal decisions with respect to the need for adequate evidence. Reporting standards are in agreement with SEC decisions and rules. The doctrine of lull disclosure finds support in case law and the <em>Securities Acts</em> also. The public accounting profession needs to evaluate existing auditing standards and promulgate revisions which will best serve the interests of the profession and the public which benefits from the services of the profession. Legal concepts should be considered by the profession in making revisions in order to avoid conflict with the law, but should be taken only as indications of minimum performance. In order to serve the public accounting profession better as guides for performing tasks and to serve the law better as criteria for judging the adequacy of the work done by public accountants, standards which are more specific and which go beyond the general statements used today are desirable.
- Subjects
UNITED States; ACCOUNTING; AUDITING standards; GOVERNMENT accounting; AUDITING laws; AUDITING; LAW; PROFESSIONS
- Publication
Accounting Review, 1960, Vol 35, Issue 1, p70
- ISSN
0001-4826
- Publication type
Article