AICPA:

Founded in 1887, the American Institute of Certified Public Accountants (AICPA) is the national professional organization of Certified Public Accountants (CPAs) in the United States. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. The AICPAs founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, and a commitment to serving the public interest.

GAAS:
Generally Accepted Auditing Standards or GAAS are sets of standards against which the quality of audits are performed and may be judged. Several organizations have developed such sets of principles, which vary by territory. 1. The auditor must have adequate technical training & proficiency to perform the audit. 2. The auditor must maintain independence (in fact and appearance) in mental attitude in all matters related to the audit. 3. The auditor must exercise due professional care during the performance of the audit and the preparation of the report. The auditor must diligently perform the audit and report any misleading statements in the report.

Cost Audit in Bangladesh:

Cost audit is the process of ascertaining whether the production, Marketing and sales processes, as well as other aspects of a business are managed in the most cost-effective manner. The provision of the statutory cost audit was first introduced in Bangladesh by the Companies Act, 1994. Cost auditing function is administered and facilitated by the Cost Audit (Report) Rules, 1997. Already, the government promulgated statutory notification making cost audit mandatory in the public sector sugar mills and public limited companies in fertilizer, textile, pharmaceutical, fuel, pharmaceutical, jute sectors and edible oil and ghee.

Social Audit:
Social accounting is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to society at large. Social accounting is commonly used in the context of business, or corporate social responsibility (CSR), although any organization, including NGOs, charities, and government agencies may engage in social accounting.

Audit Committee:
The Audit committee refers to the governance body that is charged with oversight of the organizations audit and control functions. Although these fiduciary duties are often delegated to an audit committee of the board of directors, the (...) Practice Advisory is also intended to apply to other oversight groups with equivalent authority and responsibility, such as trustees, legislative bodies, owners of an owner-managed entity, internal control committees, or full boards of directors

ICMAB:
ICMAB is the countrys leading accounting professional organization dedicated to empowering cost and management accounting professionals to drive the business performance. ICMAB provides a dynamic forum for cost and management accounting professionals to develop and advance their career through its certification. ICMAB is an organization of Ministry of Commerce, Govt. of the Peoples Republic of Bangladesh.

ICAB:
The Institute of Chartered Accountants of Bangladesh (ICAB) is the National Professional Accounting Body of Bangladesh established under the Bangladesh Chartered Accountants Order 1973 (Presidential Order No. 2 of 1973). The Ministry of Commerce, Government of the People's Republic of Bangladesh is the administrative Ministry of ICAB. The mission of ICAB is to provide leadership in the development, enhancement and coordination of the Accountancy Profession in Bangladesh in order to enable the profession to provide services of consistently high quality in the public interest.

Audit Note-Book:
Audit notebook is a diary on which auditor scribble down all important inquiries to avoid the possibility of unquestioned material facts. IMPORTANCE: The audit note book that contained detailed information proved to be very helpful to the auditor in every critical moment. For preparing the audit report it is very useful for that auditor. In case of negligence charge against the auditor, but note book s good evidence can be presented. It may be also used for future guidance and reference. It also enables to auditor to know that what work his assistant at each audit has done.

Function of C & AG:

At present, there are 10 different Audit Directorates, carrying out audit on behalf of the CAG (Comptroller and Auditor General) in the government offices and the public sector entities. The audit directorates are

Commercial Audit Directorate Local and Revenue Audit Directorate Civil Audit Directorate Works Audit Directorate Foreign Aided Project Audit Directorate Railway Audit Directorate Post, Telegraph and Telephone Audit Directorate Defence Audit Directorate Mission Audit Directorate Performance Audit Directorate

Continuous auditing:
Continuous auditing is an automatic method used to perform auditing activities, such as control and risk assessments, on a more frequent basis. Technology plays a key role in continuous audit activities by helping to automate the identification of exceptions or anomalies, analyze patterns within the digits of key numeric fields, review trends, and test controls, among other activities. The continuous aspect of continuous auditing and reporting refers to the real-time or near real-time capability for financial information to be checked and shared. Not only does it indicate that the integrity of information can be evaluated at any given point of time, it also means that the information is able to be verified constantly for errors, fraud, and inefficiencies. It is the most detailed audit.