Statement of Auditing Standards

Emphasis of Matter
An ‘Emphasis of Matter’ paragraph was an optional part in an auditor's report, used to draw attention to important matters in financial statements without modifying the overall audit opinion. The practice was revised by the Auditing Practices Board in 1993.
SAS
An abbreviation with differing definitions in the United Kingdom and the United States, crucial for understanding standardized auditing practices.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.