A person whose spouse has died within the tax year and who may file a joint tax return for that year. Additionally, the surviving spouse can file joint returns for the next two years if they remain unmarried and maintain a household as the principal residence for a dependent child.
Statements on Auditing Standards (SAS)
[STATE-ments on AW-dih-ting STAN-durds]
What is the definition of Statements on Auditing Standards (SAS)?
Statements issued by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) that provide guidelines for auditors to follow in the conduct of an audit.
Using Statements on Auditing Standards (SAS) in an Example
The Statements on Auditing Standards guide the auditor on how to assess the risk of material misstatement in a financial statement audit, ensuring that the audit is conducted in accordance with generally accepted auditing principles.
Using Statements on Auditing Standards (SAS) in a sentence
During the audit planning meeting, the lead auditor emphasized the importance of adhering to the Statements on Auditing Standards to ensure compliance and thoroughness in our audit procedures.
Related Terms
Swap
A financial contract in which two parties agree to exchange streams of payments over a specified period, based on different indices such as interest rates, foreign exchange rates, or equity indices, applied to a notional amount. Swaps typically do not involve the exchange of principal.
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