The AICPA principles and the auditing standards should be viewed by practitioners as
A) ideals to work towards, but which are not achievable.
B) maximum standards that denote excellent work.
C) minimum standards of performance that must be achieved on each audit engagement.
D) benchmarks to be used on all audits, reviews, and compilations.

Question

Quizplus · Accepted Answer

The AICPA principles and auditing standards are considered the minimum standards of performance that must be achieved on each audit engagement. As such, practitioners should view them as the foundation of their work and strive to meet these standards in their engagement work. Choices A, B, and D are inaccurate because the AICPA principles and auditing standards are both achievable and measurable, and represent the baseline of professional expectations for practitioners.

The AICPA Principles and the Auditing Standards Should Be Viewed