GAAS VS. GAGAS STANDARDS. Gail McCook, the administrative assistant of a local CPA firm, merged the files listing GAAS standards and GAGAS stands. Because the firm performs both GAAS and GAGAS audits, it is important to identify which standards are applicable to which audits. The governmental audit partner, Gerald Henderson, has split up the list of standards among staff, and you have been assigned the standards below.

1. Pertinent information should be communicated to individuals contracting for or requesting the audit.

2. The auditor must maintain independence in mental attitude in all matters relating to the audit.

3. The auditor must adequately plan the work and must properly supervise any assistants

4. When the audit findings involve deficiencies, the elements (criteria, condition, cause and effect) of the finds should be developed.

5. When the financial statement audit report contains an opinion or a disclaimer of opinion, a report of internal control over financial reporting and on compliance with laws, regulations, and provisions of contracts and grants must be provided as a part of the report or as a separate report.

6. The auditor must identify in the auditors report those circumstances in which such principles have not been consistently observed in the current period in relation to the preceding period.

7. The audit organization must establish a system of quality and have an external peer review at least once every 3 years.

8. Auditors apply certain limited procedures in connection with RSI to provide assurance that it is fairly presented in relation to the basic financial statements.

9. The auditors must exercise due professional care in performance of the audit and the preparation of the report.

10. Known findings and recommendations from previous engagements that directly relate to the current audit should be considered in planning.

For each item in the preceding list, indicate whether standards are GAAS or GAGAS standards.