SAS No. 128 AU-C Section 610 Using the Work of Internal Auditors
The issuance of SAS No. 128 culminates the ASB clarity project in that, now, all of the auditing technical literature has been rewritten in the clarified format. The revised AU-C section 610 guidance is effective for audits of financial...
Published on March 19, 2014
SAS No. 128 (AU-C Section 610) Using the Work of Internal Auditors
The issuance of SAS No. 128 will culminate the ASB clarity project in that, now, all of the auditing technical literature has been rewritten in the clarified format
Published on February 13, 2014
SAS No. 114 Redrafted Clarifying Governance Communications
The Auditing Standards Board [ASB] has finished work on the first of the clarified auditing standards in work related to the overall clarity project. In efforts to converge the U.S. auditing technical literature with literature developed by the International Auditing and Assurance Standards Board [IAASB], and in efforts to clarify
Published on November 26, 2008
AU-C SECTION 920 Amendment Letters for Underwriters and Certain Other Requesting Parties
The Auditing Standards Board [ASB] voted to issue a final standard that amends AU-C section 920, Letters for Underwriters and Certain Other Requesting Parties. The amendment is a result of requests for revisions to the guidance.
Published on May 19, 2014
SSARS No. 21 Changes in the Landscape for Accountants in Public Practice Who Prepare Financial Statements
SSARS No. 21 represents the most significant changes to the compilation and review literature in decades, and draws a bright line between accounting and reporting services.
Published on November 19, 2014
SAS No. 122 Clarification and Recodification of U.S. Auditing Standards
On October 5, 2011, the Auditing Standards Board [ASB] released a trio of Statements on Auditing Standards [SASs], where one of those documents represents the “Super SAS” that serves to both recodify U.S. generally accepted auditing standards and enhance convergence with International Standards on Auditing [ISAs], as those standards are
Published on November 09, 2011
SAS No. 126 Going Concern Issues in Financial Statement Audits
On June 28, 2012, the Auditing Standards Board [ASB] released Statement on Auditing Standard [SAS] No. 126, entitled The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern [Redrafted].
Published on July 18, 2012
New Guidance for Compilation/Review Engagements
At its November 2009 meeting, the Accounting and Review Services Committee [ARSC] voted to finalize SSARS No. 19, entitled Compilation and Review Engagements.
Published on November 25, 2009
Liquidity Restrictions New Accounting Guidance
The AICPA recently has released some new Technical Practice Aid [TPA] guidance that is found in Technical Information Service [TIS] Section 1100, and in particular the questions and answers in item 15 within that guidance, entitled Liquidity Restrictions.
Published on October 15, 2008
Compilation Engagements Preparing for Significant Changes
On June 29, 2012, the AICPA Accounting and Review Services Committee [ARSC] released an exposure draft containing three proposed Statements on Standards for Accounting and Review Services [SSARSs]. If adopted in final form, the guidance will change the landscape of compilation engagements.
Published on August 01, 2012