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AICPA and PCAOB Standards Database
PCAOB Standards and Related Rules — supplies auditors of public companies with a current and comprehensive source of PCAOB standards for engagements. AICPA Professional Standards — provides a comprehensive source of AICPA standards applicable to non-public entities. Access: Please contact your instructor for access details.
The American Institute of CPAs (AICPA)
Founded in 1887, the AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards. The AICPA’s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
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Federal Accounting Standards Advisory Board (FASAB)
The FASAB serves the public interest by improving federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information.
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Financial Accounting Standards Board (FASB)
The designated private sector organization in the U.S. that establishes financial accounting and reporting standards.
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Financial Accounting Standards Advisory Council (FASAC)
The Financial Accounting Standards Advisory Council (FASAC) was formed in 1973 concurrent with the establishment of the Financial Accounting Standards Board (the FASB or the Board). The primary function of FASAC is to advise the Board on issues related to projects on the Board’s agenda, possible new agenda items, project priorities, procedural matters that may require the attention of the FASB, and other matters as requested by the chairman of the FASB. FASAC meetings provide the Board with an opportunity to obtain and discuss the views of a very diverse group of individuals from varied business and professional backgrounds. The members of FASAC are drawn from the ranks of CEOs, CFOs, senior partners of public accounting firms, executive directors of professional organizations, and senior members of the academic and analyst communities, all with an interest in the integrity of full and complete financial reporting and disclosure.
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Governmental Accounting Standards Board (GASB)
GASB is an independent, private-sector organization based in Norwalk, Connecticut, that establishes accounting and financial reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP).
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Institute of Internal Auditors (IIA)
Provides information for auditors on certification, education, research, and technology. It is a resource for auditing issues. The International Professional Practices Framework (IPPF) is the conceptual framework that organizes authoritative guidance promulgated by The IIA. The IIA provides internal audit professionals worldwide with authoritative guidance organized in the IPPF as mandatory guidance and recommended guidance. The updated Framework was introduced in July 2015. Modifications proposed for The IIA’s International Standards for the Professional Practice of Internal Auditing were approved in October 2016 and are now in effect. The revisions include the addition of two new standards, alignment of the Standards to the Core Principles, and updates to existing standards.
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Public Company Accounting Oversight Board (PCAOB)
The PCAOB is directed by the Sarbanes-Oxley Act of 2002 to establish auditing and related professional practice standards for registered public accounting firms to follow in the preparation and issuance of audit reports. Non-U.S. public accounting firms that audit or play a substantial role in the audit of U.S. issuers, brokers and dealers are subject to oversight by the PCAOB. PCAOB rule, Compliance with Auditing and Related Professional Practice Standards (3100) requires registered public accounting firms and their associated persons to comply with all applicable auditing and related professional practice standards. PCAOB rules Auditing Standards (3200), Interim Attestation Standards (3300T), Interim Quality Control Standards (3400T), and Interim Ethics and Independence Standards (3500T) describe the PCAOB standards with which auditors are required to comply.
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Securities and Exchange Commission (SEC)
The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the public's trust.
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The Generally Accepted Government Auditing Standards, also known as the Yellow Book, provides a framework for conducting high-quality audits with competence, integrity, objectivity, and independence. The Yellow Book is used by auditors of government entities, entities that receive government awards, and other audit organizations performing Yellow Book audits. It outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports. Yellow Book revisions undergo an extensive, deliberative process, including public comments and input from the Comptroller General's Advisory Council on Government Auditing Standards. GAO considers all Yellow Book comments and input from the Comptroller General's Advisory Council on Government Auditing Standards when finalizing revisions to the standards. Printed copies of the 2011 Yellow Book and 2018 Yellow Book online are available through the Government Publishing Office
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