what happens if an auditor doesn t follow gaas 
if an auditor fails to adhere to gaas they could be held liable for negligence regarding losses suffered by a company the bottom linegenerally accepted auditing standards are a set of guidelines that auditors follow when they examine and report on companies financial records these guidelines are important because they underscore appropriate actions and activities of auditors generally accepted accounting principles gaap relate to accounting rules they are different from gaas however auditors review corporate financial records for adherence to gaap 