Go to the Penn State Library Accounting Resources. Follow the steps below to locate and explore GAAS. 

1. Click on RIA Checkpoint (Business: AICPA and FASB).
2. Under the dropdown selector, choose “Acctg, Audit & Corp Finance.”
3. Click on “Table of Contents” in the menu directly above the dropdown selector.
4. Expand the “+” at “Accounting, Audit & Corporate Finance Library.”
5. Expand the “+” at “Standards and Regulations.”
6. Expand the “+” at “AICPA.”
7. Expand the “+” at PCAOB.
8. Peruse the content under each of those topics.
9. Expand the “+” at the AICPA “Professional Standards.” Notice that there are “US Auditing Standards” and “US Auditing Standards – AICPA Clarified.”
   Our class will focus on the clarified U.S. auditing standards because the clarified standards took effect January 1, 2013.  The clarified standards represent a codification of previously existing standards plus some changes to have a higher degree of coordination with international standards.
10. Check out what else is available under “Professional Standards” – Attestation, Review and Compilation, Tax, etc.  This is where you have access to applicable assurance standards and FASB pronouncements.
11. Please take note that Statement of Auditing Standards (“SAS”) No. 122 is the final SAS that actually codifies the clarified standards. SAS 122 is a 334 page document that explains the rationale behind the codification and clarification project and that statement also provides you with a cross-reference from the old SAS to the new clarified standards.
12. Take a moment to read AU-C Section 200 paragraphs .04 through .10 to read what an audit of financial statements means.  Pay specific attention to the discussion on materiality in paragraph .07.  Note the footnote at the end of the statement on materiality. If you look below for the footnote, you’ll find a hyperlink to AU Section 320 “Materiality in Planning and Performing an Audit.”  Read paragraph .12 and .13 to understand the overall objectives of the auditor.