The headlines swirling around Enron, Arthur Andersen, WorldCom and others have sparked concerns about the quality and quantity of financial information provided by both public and private entities. Generally Accepted Auditing Standards are constantly changing. A failure to stay current - or mistakes in applying the standards - can have disastrous effects. This practical and effective how-to guide keeps professionals in accounting, auditing, consulting and financial management up to date on all aspects of accepted auditing standards. With special emphasis on practical applications, Generally Accepted Auditing Standards offers full, easy-to-understand explanations of the authoritative standards and all their requirements.