Attestation of Audit Standards - Nebraska

Attestation of Audit Standards is a legal document that was released by the Nebraska Department of Banking and Finance - a government authority operating within Nebraska.

FAQ

Q: What is an attestation of audit standards?
A: An attestation of audit standards is a statement or report issued by a licensed auditor regarding the compliance of a company's financial statements with applicable auditing standards.

Q: What is the purpose of an attestation of audit standards?
A: The purpose of an attestation of audit standards is to provide assurance to stakeholders and the public that a company's financial statements are reliable, accurate, and in compliance with auditing standards.

Q: Who can perform an attestation of audit standards in Nebraska?
A: An attestation of audit standards in Nebraska must be performed by a licensed certified public accountant (CPA) or a licensed public accountant (PA).

Q: What are the requirements for an attestation of audit standards in Nebraska?
A: The requirements for an attestation of audit standards in Nebraska include conducting the audit in accordance with generally accepted auditing standards (GAAS) and issuing a report that expresses an opinion or conclusion on the financial statements.

Q: Are there any specific audit standards that need to be followed in Nebraska?
A: Yes, in Nebraska, auditors must follow the Generally Accepted Auditing Standards (GAAS), as established by the American Institute of Certified Public Accountants (AICPA), along with any additional standards issued by the Nebraska State Board of Public Accountancy.

Q: What is the role of the Nebraska State Board of Public Accountancy in attestation of audit standards?
A: The Nebraska State Board of Public Accountancy is responsible for setting and enforcing the standards for the practice of public accounting, including the standards for attestation of audit standards.

Q: What happens if a company's financial statements do not comply with audit standards?
A: If a company's financial statements do not comply with audit standards, the auditors may issue a qualified or adverse opinion, which indicates that the financial statements may not be reliable or in compliance with applicable standards.