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How standards promote consistency in accounting and auditing

May 15, 2022 · 4 min read

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Trust, consistency, reliability and confidence are among the most valuable features of accounting professionals’ work, and they would be impossible to achieve without professional standards.

Standards are the principles and rules that govern accountants’ practices and procedures and undergird the integrity and comparability of the work done by these professionals.

Imagine, for example, that you were comparing the audited financial statements of Company A and Company B to decide in which organization you want to invest. A useful comparison is

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