In the United States, the standards are promulgated by the Auditing Standards Board, a division of the American Institute of Certified Public Accountants (AICPA). Question: Distinguished between generally accepted auditing standards (GAAS) and generally accepted accounting principle. The officials were the Secretary of the Treasury, the Director of the Office of Management and Budget, and the Comptroller General of the United States. Generally Accepted Auditing Standards, or GAAS are sets of standards against which the quality of audits are performed and may be judged. In October 1990, three officials responsible for federal financial reporting established the Federal Accounting Standards Advisory Board (FASAB or 'the Board') as a federal advisory committee.
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