Video: Introduction to Professional Standards in Audit and Non-Audit Engagements

This lesson provides an overview of why professional standards and reputation are crucial for auditors, reviewers, preparers, and compilers. It emphasizes the importance of adhering to solid professional standards to maintain trust between practitioners and their clients. Additionally, the lesson highlights the objectives of these standards, which include ensuring consistent engagement practices, protecting auditors from professional liability, and establishing clear responsibilities for practitioners.