Abstract
This chapter describes how to use the audit and accounting manual. The Audit and Accounting Manual is designed to provide practitioners with the tools needed to help plan, perform, and report on audit engagements. This manual is not intended to serve as a complete or comprehensive quality control system, and it is not intended to be used in connection with the audits of entities that are required to be audited under standards set by the PCAOB. The auditor must be independent of the entity when performing an engagement in accordance with generally accepted auditing standards (GAAS) unless (a) GAAS provides otherwise or (b) the auditor is required by law or regulation to accept the engagement and report on the financial statements. When the auditor is not independent and neither (a) nor (b) are applicable, the auditor is precluded from issuing a report under GAAS.
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