Generally Accepted Auditing Standards (GAAS): Fundamental auditing guidelines and framework that must be followed when conducting financial audits in the United States
Generally Accepted Accounting Principles (GAAP): Standard accounting principles, guidelines, and procedures for financial reporting and record-keeping
Sarbanes-Oxley Act 2002: Federal law establishing enhanced standards for corporate accountability and financial disclosure, particularly Section 404 on internal controls
Bank Secrecy Act (BSA): Federal law requiring financial institutions to assist government agencies in detecting and preventing money laundering
FDIC Regulations: Federal banking regulations governing deposit insurance and banking operations that may affect cash balance audits
AICPA Standards: Professional standards set by the American Institute of Certified Public Accountants for accounting and auditing practices
PCAOB Standards: Standards set by the Public Company Accounting Oversight Board for auditing public companies
Statement on Auditing Standards (SAS): Professional standards for conducting audits, including specific procedures for cash balance verification
State Accounting Regulations: State-specific laws and regulations governing accounting practices and audit requirements
Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain their information-sharing practices and protect sensitive data
State Contract Laws: State-specific laws governing professional service agreements and contract formation
Professional Liability Standards: Legal requirements and professional standards regarding auditor liability and professional responsibility
