3 Standards Categories 1) General Standards (1-3)

2) Field Work Standards (4-6)

3) Reporting Standards (7-10)

GAAS 1 Technical training and proficiency

Be able to understand the audit

GAAS 2 Independence in mental attitude

Be able to say what's right and wrong

GAAS 3 Exercise due professional care

Does an audit well

GAAS 4 Adequate planning and supervision

Planning goes back months before the audit

GAAS 5 Sufficient understanding of the entity and its environment,

including internal controls
Understand the material risks of a client

GAAS 6 Sufficient, adequate evidence

In order to support your opinion

GAAS 7 In accordance with GAAP (IFRS) (applicable accounting framework)

Explicit

GAAS 8 GAAP applied consistently period to period

Implicit

GAAS 9 Adequate informative disclosure

Implicit

GAAS 10 Express an opinion

Explicit