This guide serves as a comprehensive reference for the auditing standards and professional procedures required for compliance in the 1995 fiscal year. Larry P. Bailey compiles and organizes complex regulatory frameworks, including Generally Accepted Auditing Standards (GAAS) and Statements on Auditing Standards (SAS), to assist practitioners in navigating the technical requirements of the accounting profession. The text functions as a centralized repository for both mandatory and recommended practices within the industry.

Practitioners and students frequently utilize this text as a foundational reference for understanding the regulatory landscape of the mid-1990s. Experts highlight the systematic organization of the material as a primary benefit for professionals seeking quick access to specific auditing rules.