An abbreviation with differing definitions in the United Kingdom and the United States, crucial for understanding standardized auditing practices.
Statement on Auditing Standards (SAS) are issued by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) to establish accepted U.S. auditing standards. Members of AICPA must explain any deviations from SAS principles in their audit reports.
