Dear CCI members.....am a CPT student and having science background, i heard many of my seniors are using the terms AAS and SA's frequently...... Plz tell me the difference between AAS and SA's? Is Auditing and Assurance Standards and Standard on Auditing terms are same or they are 2 different terms. Plz let me Clear what is AAS and what is Standards on Auditing........?
4 Replies
Subhash
(None)
(122 Points)
Replied 09 January 2014
Hello Sindhuri,
I think it's AS and not AAS that you're hearing.
AS - Accounting Standards.
SA - Standards on Auditing.
The above full forms are quite explanatory.
Regards,
Subhash.
Ankit
(Student)
(661 Points)
Replied 09 January 2014
Earlier SA's were known as AAS..
no more diff is thr.
vipin
(student)
(36 Points)
Replied 09 January 2014
AAS and SA both have same meaning
AAS was replaced by SA, You will learn about SA in IPCC . SA's are standards on auditing while AS's r standards on accounting.
ravitheja
(CA Final)
(77 Points)
Replied 09 January 2014
Earlier AAS (Auditing and Assurance Standards) were prevalent and these were converged with international audit standards and subsequently they are known as SA (Standards on Auditing).
From the exam point of view SA (Standards on Auditing) are applicable.
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