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Please, answer the following questions: 1. What is a financial reporting framework? Why is a...

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Accounting

Please, answer the following questions:

1. What is a financial reporting framework? Why is a financial reporting framework important to a financial statement audit?

2. What is the difference between generally accepted accounting principles (GAAP) and AICPA generally accepted auditing standards (GAAS)?

3. What role do the generally accepted auditing standards (GAAS) play in the audit function?

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