Statement on Auditing Standards

To address concerns over the clarity, length, and complexity of its standards, the Auditing Standards Board established clarity drafting conventions and redrafted all its SASs in accordance with those conventions. As of February 2014, this effort is complete. SAS Nos. 122–127 and SAS No. 128 are effective for audits of financial statements for periods ending on or after December 15, 2012, and December 15, 2014, respectively. Please refer to the clarified Statements on Auditing Standards for current guidance.

As part of the clarification of the SASs, the AU section numbers as designated by SAS Nos. 1–121 were recodified and "AU-C" was selected as an identifier in order to avoid confusion with references to superseded "AU" sections. Superseded “AU” sections were deleted from AICPA Professional Standards in December 2013, by which time substantially all engagements for which the “AU” sections were still effective were expected to be completed. Consult AU-C exhibit A for a list that cross-references AU sections to AU-C sections.

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SAS No. 115 Toolkit
This toolkit provides guidance on the implementation of SAS No. 115 and tools to assist you in educating and communicating the impact of SAS No. 115 to your clients.