Pre-Clarity Statements on Auditing Standards

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Original 
Standard
No.

Title & synopsis   

Section in
Professional
Standards 

Interpretations (if applicable)

SAS No. 1

Responsibilities and Functions of the Independent Auditor
This section describes the responsibilities and functions of the independent auditor. The section also includes distinction between the responsibilities of the auditor and management and the professional qualifications required by the independent auditor.

AU sec. 110
(superseded)

 
 

Nature of the General Standards
This section describes the nature of the general standards

AU sec. 201
(superseded)

 
 

Training and Proficiency of the Independent Auditor
This section describes the formal education and experience required by the auditor.

AU sec. 210
(superseded)

 
 

Independence
This section describes how the auditor must maintain independence in all matters relating to the audit.

AU sec. 220
(superseded)
 
 

Due Professional Care in the Performance of Work 
This section describes how the auditor must exercise due professional care in the performance of the audit and the preparation of the report. The section also requires that the auditor exercise professional skepticism and have reasonable assurance that the financial statements are free of material misstatement.

AU sec. 230
(superseded)

 
 

Inventories 
This section provides guidelines for the independent auditor in observing inventories. It also discusses inventories held in public warehouses and the effect of inventories on the auditor’s report.

AU sec. 331
(superseded)

AU sec. 9331
(superseded)

 

Adherence to Generally Accepted Accounting Principles 
This section describes the first standard of reporting, which states that the auditor must state in the auditor’s report whether the financial statements are presented in accordance with generally accepted accounting principles. 

AU sec. 410
(superseded)

AU sec. 9410
(superseded)

 

Consistency of Application of Generally Accepted Accounting Principles
This section describes the second standard of reporting, which states that the auditor must identify in the auditor’s report those circumstances in which such principles have not been consistently observed in the current period in relation to the preceding period. The section describes accounting changes that affect consistency, changes that do not affect consistency, periods to which consistency standards relate, and first year audits.

AU sec. 420
(superseded)

 AU sec. 9420
(superseded)

 

Dating of the Independent Auditor's Report 
This section describes how an independent auditor should determine the dating of his or her report, including the effect of subsequent events on the date of the report.

AU sec. 530
(superseded)

 
 

Part of Audit Performed by Other Independent Auditors
This section provides guidance applicable to professional judgments an independent auditor makes regarding the work and reports of other independent auditors on financial statements.

AU sec. 543
(superseded)

 AU sec. 9543
(superseded)
 

Lack of Conformity With Generally Accepted Accounting Principles
This section concerns financial statements of regulated companies that do not conform with generally accepted accounting principles.

AU sec. 544
(superseded)

 AU sec. 9544
(superseded)

 

Subsequent Events
This section addresses events occurring subsequent to the balance-sheet date but prior to the issuance of the financial statements that require adjustment or disclosure in the statements. 

AU sec. 560
(superseded)

 AU sec. 9560
(superseded)

 

Subsequent Discovery of Facts Existing at the Date of the Auditor's Report
This section describes procedures applicable to an auditor who, subsequent to the date of a report on audited financial statements, becomes aware of facts existing at the date of the report that might have affected the report.

AU sec. 561
(superseded)

 AU sec. 9561
(superseded)

 

Public Warehouses-Controls and Auditing Procedures for Goods Held
This section discusses controls of a public warehouse, the procedures of its independent auditor with respect to goods in the warehouse's custody, and auditing procedures performed by the independent auditor of the owner of goods in the warehouse.

AU sec. 901
(superseded)

 

 SAS No. 12

Inquiry of a Client's Lawyer Concerning Litigation, Claims, and
Assessments

This section provides guidance on the procedures an independent auditor should consider for identifying litigation, claims, and assessments and for satisfying himself or herself as to the financial accounting and reporting for such matters when he or she is performing an audit in accordance with generally accepted auditing standards.

(superseded):
AU sec. 337AU sec. 337A
AU sec. 337B
AU sec. 337C
 AU sec. 9337
(superseded)

SAS No. 25 

The Relationship of Generally Accepted Auditing Standards to Quality Control Standards
This section describes the relationship between generally accepted auditing standards and quality control standards.

AU sec. 161
(superseded)
 

 SAS No. 26

Association With Financial Statements
This section defines association as it is used in the fourth standard of reporting and provides guidance to accountants engaged to audit financial statements in accordance with generally accepted auditing standards. 

AU sec. 504
(superseded)

 AU sec. 9504
(superseded)

 SAS No. 32

Adequacy of Disclosure in Financial Statements
This section describes the third standard of reporting, which states that when the auditor determines that informative disclosures are not reasonably adequate, the auditor must so state in the auditor’s report. 

AU sec. 431
(superseded)

 

 SAS No. 37

Filings Under Federal Securities Statutes 
This section explains filing under federal securities statutes. 

AU sec. 711
(superseded)

AU sec. 9711
(superseded)

 SAS No. 39

Audit Sampling
This section provides guidance for planning, performing, and evaluating audit samples. It describes uncertainty, substantive tests of details, tests of controls, and dual-purpose samples. The section also explains how to select a sampling approach.

AU sec. 350
(superseded)

AU sec. 9350
(superseded)

 SAS No. 42

Reporting on Condensed Financial Statements and Selected Financial Data
This section provides guidance applicable to an auditor who is engaged to report on condensed financial statements or selected financial data prepared by a client.

AU sec. 552
(superseded)

 

SAS No. 43

Omnibus Statement on Auditing Standards

(superseded):
AU sec. 331.14
AU sec. 350.47
AU sec. 901.01, .24, and .28
 

 SAS No. 45

Related Parties
This section provides guidance on procedures that should be considered by the auditor when he is performing an audit of financial statements in accordance with generally accepted auditing standards to identify related party relationships and transactions and to satisfy himself concerning the required financial statement accounting and disclosure.

AU sec. 334
(superseded)

 AU sec. 9334
(superseded)

 SAS No. 46

Consideration of Omitted Procedures After the Report Date
This section provides guidance on the considerations and procedures to be applied by an auditor who, subsequent to the date of his report on audited financial statements, concludes that one or more auditing procedures considered necessary at the time of the audit in the circumstances then existing were omitted from his audit of the financial statements, but there is no indication that those financial statements are not fairly presented in conformity with generally accepted accounting principles or with another comprehensive basis of accounting.

AU sec. 390
(superseded)

 

 SAS No. 50

Reports on the Application of Accounting Principles
This section provides guidance that a reporting accountant should apply when preparing a written report on the application of accounting principles to specified transactions.  

AU sec. 625
(superseded)

AU sec. 9625
(superseded)

 SAS No. 51

Reporting on Financial Statements Prepared for Use in Other Countries
This section provides guidance applicable to reports on financial statements of a company in the United States that are prepared in conformity with the accounting principles generally accepted in another country for use outside the United States.

AU sec. 534
(superseded)

AU sec. 9534
(superseded)

 SAS No. 54

Illegal Acts by Clients
This section prescribes the nature and extent of the consideration an independent auditor should give to the possibility of illegal acts by a client in an audit of financial statements in accordance with generally accepted auditing standards. The section also provides guidance on the auditor's responsibilities when a possible illegal act is detected.

AU sec. 317
(superseded)

AU sec. 9317
(superseded)

 SAS No. 56 

Analytical Procedures
This section provides guidance on the use of analytical procedures and requires the use of analytical procedures in the planning and overall review stages of all audits.

AU sec. 329
(superseded)

AU sec. 9329
(superseded)

 SAS No. 57

Auditing Accounting Estimates
This section provides guidance to auditors on obtaining and evaluating sufficient appropriate audit evidence to support significant accounting estimates in an audit of financial statements in accordance with generally accepted auditing standards.

AU sec. 342
(superseded)

AU sec. 9342
(superseded)

 SAS No. 58

Reports on Audited Financial Statements
This section explains types of reports, along with examples  and descriptions of circumstances when each is appropriate, issued by an auditor in connection with audits of certain types of historical financial statements.

AU sec. 508
(superseded)

AU sec. 9508
(superseded)

 SAS No. 59

The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern 
This section provides guidance to the auditor in conducting an audit of financial statements in accordance with generally accepted auditing standards with respect to evaluating whether there is substantial doubt about the entity's ability to continue as a going concern. It details the auditor’s responsibilities, procedures, considerations, communication with those charged with governance, and documentation.

AU sec. 341
(superseded)

AU sec. 9341
(superseded)

SAS No. 62

Special Reports
This section applies to special reports.

AU sec. 623
(superseded)

AU sec. 9623
(superseded)

 SAS No. 64

Omnibus Statement on Auditing Standards—1990

 

(superseded):
AU sec. 341.12–.13
AU sec. 508.74
AU sec. 543.16

 

(superseded):
AU sec. 9341
AU sec. 9508
AU sec. 9543
 

SAS No. 65 

The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements
This section provides guidance on considering the work of internal auditors and on using internal auditors to provide direct assistance to the auditor in an audit performed in accordance with generally accepted auditing standards.

AU sec. 322
(superseded)

 

 SAS No. 67

The Confirmation Process
This section provides guidance about the confirmation process in audits performed in accordance with generally accepted auditing standards.

It defines the confirmation process; discusses the relationship of confirmation procedures to the auditor's assessment of audit risk; describes certain factors that affect the reliability of confirmations; provides guidance on performing alternative procedures when responses to confirmation requests are not received; provides guidance on evaluating the results of confirmation procedures; and specifically addresses the confirmation of accounts receivable.

AU sec. 330
(superseded)

AU sec. 9330
(superseded)

 SAS No. 69

The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles
This section explains the meaning of the phrase present fairly in conformity with generally accepted accounting principles.

AU sec. 411
(superseded)

AU sec. 9411
(superseded)

 SAS No. 70

Service Organizations 
This section provides guidance on the factors an independent auditor should consider when auditing the financial statements of an entity that uses a service organization to process certain transactions. This section also provides guidance for independent auditors who issue reports on the processing of transactions by a service organization for use by other auditors.

AU sec. 324
(superseded)

 AU sec. 9324
(superseded)

 SAS No. 72

Letters for Underwriters and Certain Other Requesting Parties
This section provides guidance to accountants for performing and reporting on the results of engagements to issue letters for underwriters and certain other requesting parties.

 

AU sec. 634
(superseded)

 

AU sec. 9634
(superseded)

 SAS No. 73

Using the Work of a Specialist 
This section provides guidance to the auditor who uses the work of a specialist in performing an audit in accordance with generally accepted auditing standards. For purposes of this section, a specialist is a person (or firm) possessing special skill or knowledge in a particular field other than accounting or auditing.

AU sec. 336
(superseded)

AU sec. 9336
(superseded)

 SAS No. 76 

Amendments to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties

(superseded):
AU sec. 634.01, .09, .10, and .64
 AU sec. 9634
(superseded)

 SAS No. 77

Amendments to Statements on Auditing Standards No. 22, Planning and Supervision, No. 59, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, and No. 62, Special Reports  

(superseded):
AU sec. 341.13
AU sec. 544.02    and .04
AU sec. 623.05
(superseded):
AU sec. 9341
AU sec. 9623
 

 SAS No. 79

Amendment to Statement on Auditing Standards No. 58, Reports on Audited Financial Statements 
This section explains types of reports, along with examples  and descriptions of circumstances when each is appropriate, issued by an auditor in connection with audits of certain types of historical financial statements.

AU sec. 508
(superseded)
AU sec. 9508
(superseded)

SAS No. 84

Communications Between Predecessor and Successor Auditors 
This section establishes guidance on communications between predecessor and successor auditors when a change of auditors is in process or has taken place. It also provides communications guidance when possible misstatements are discovered in financial statements reported on by a predecessor auditor.

AU sec. 315
(superseded)

 

 SAS No. 85

Management Representations
This section establishes a requirement that the independent auditor obtain written representations from management as a part of an audit of financial statements performed in accordance with generally accepted auditing standards and provides guidance concerning the representations to be obtained.

AU sec. 333
(superseded)

AU sec. 9333
(superseded)

SAS No. 86 

Amendment to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties
This section provides guidance to accountants for performing and reporting on the results of engagements to issue letters for underwriters and certain other requesting parties.

AU sec. 634
(superseded)

AU sec. 9634
(superseded)

 SAS No. 87

Restricting the Use of an Auditor's Report
This section defines general-use and restricted-use reports and outlines guidance applicable to restricting the use of reports issued pursuant to Statements on Auditing Standards.

AU sec. 532
(superseded)

 

SAS No. 88 

Service Organizations and Reporting on Consistency

(superseded):
AU sec. 324.03 and .06–.10
AU sec. 420.07–.11
(superseded):
AU sec. 9324
AU sec. 9420

 SAS No. 89

Audit Adjustments

(superseded):
AU sec. 333.06 and .16
 

AU sec. 9333
(superseded)

 SAS No. 91

Federal GAAP Hierarchy

(superseded):
AU sec. 411.14–.15, and .18
AU sec. 9411
(superseded)

 SAS No. 92

Auditing Derivative Instruments, Hedging Activities, and Investments in Securities 
This section provides guidance to auditors in planning and performing auditing procedures for assertions about derivative instruments, hedging activities, and investments in securities that are made in an entity’s financial statements. It also describes how assertions are classified according to three broad categories that are discussed in AU section 326, Audit Evidence.

AU sec. 332
(superseded)

AU sec. 9332
(superseded)

 SAS No. 93

Omnibus Statement on Auditing Standards—2000

(superseded):
AU sec. 315.02 and .12
AU sec. 411.01
AU sec. 508.08

 AU sec. 9332

 SAS No. 93

Omnibus Statement on Auditing Standards—2000

(superseded):
AU sec. 315.02 and .12
AU sec. 411.01
AU sec. 508.08
(superseded): 
AU sec. 9411
AU sec. 9508

 SAS No. 95

Generally Accepted Auditing Standards 
This section describes the 10 general, field work, and reporting standards approved and adopted by the membership of the AICPA. In addition, the section defines interpretive and other auditing publications.

AU sec. 150
(superseded)

 

 SAS No. 97

Amendment to Statement on Auditing Standards No. 50, Reports on the Application of Accounting Principles
This section provides guidance that a reporting accountant should apply when preparing a written report on the application of accounting principles to specified transactions.

AU sec. 625
(superseded)

AU sec. 9625
(superseded)

 SAS No. 98

Omnibus Statement on Auditing Standards—2002

(superseded):
AU sec. 150.05
AU sec. 161.02–.03
AU sec. 324.57–.61
AU sec. 508.65
AU sec. 530.03–.05
AU sec. 560.01
AU sec. 561.01–.03




(superseded):
AU sec. 9324
AU sec. 9508
AU sec. 9561

 SAS No. 99

Consideration of Fraud in a Financial Statement Audit
This section establishes standards and provides guidance to auditors in fulfilling the responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement (AU section 110) as it relates to fraud in an audit of financial statements conducted in accordance with generally accepted auditing standards.

AU sec. 316
(superseded)

 

 SAS No. 100

 Interim Financial Information
AU sec. 722
(superseded)
 

 SAS No. 101

Auditing Fair Value Measurements and Disclosures
This section establishes standards and provides guidance on auditing fair value measurements and disclosures contained in financial statements. In particular, this section addresses audit considerations relating to the measurement and disclosure of assets, liabilities, and specific components of equity presented or disclosed at fair value in financial statements.

AU sec. 328
(superseded)

 AU sec. 9328
(superseded)

 SAS No. 102

Defining Professional Requirements in Statements on Auditing Standards  
This section describes professional requirements in the auditing standards, including unconditional and presumptively mandatory requirements, and the use of explanatory material.

AU sec. 120
(superseded)

 

 SAS No. 103

Audit Documentation

(superseded):
AU sec. 339
AU sec. 530

 AU sec. 9339
(superseded)

 SAS No. 104

Amendment to Statement on Auditing Standards No. 1, Codification of Auditing Standards and Procedures (“Due Professional Care in the Performance of Work”)

AU sec. 230.10
(superseded)

 

 SAS No. 105

Amendment to Statement on Auditing Standards No. 95, Generally Accepted Auditing Standards

AU sec. 150.02
(superseded)

 

 SAS No. 106

Audit Evidence 
This section provides guidance to the auditor who uses the work of a specialist in performing an audit in accordance with generally accepted auditing standards. For purposes of this section, a specialist is a person (or firm) possessing special skill or knowledge in a particular field other than accounting or auditing.

AU sec. 326
(superseded)

AU sec. 9326
(superseded)

 SAS No. 107

Audit Risk and Materiality in Conducting an Audit 
This section establishes guidance on the auditor's consideration of audit risk and materiality when performing an audit of financial statements in accordance with generally accepted auditing standards.

AU sec. 312
(superseded)

AU sec. 9312
(superseded)

 SAS No. 108

Planning and Supervision 
This section describes the first standard of field work, relating to the planning of the audit and the supervision of any assistants, and provides guidance to the independent auditor conducting an audit in accordance with generally accepted auditing standards on the considerations and activities applicable to planning and supervision.

AU sec. 311
(superseded)

AU sec. 9311
(superseded)

 SAS No. 109

Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement  
This section describes the second standard of field work, relating to the auditor obtaining a sufficient understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement of the financial statements whether due to error or fraud, and to design the nature, timing, and extent of further audit procedures. This section also discusses risk assessment procedures and sources of information about the entity and its environment.

AU sec. 314
(superseded)

 

 SAS No. 110

Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 
This section establishes standards and provides guidance on determining overall responses and designing and performing further audit procedures to respond to the assessed risks of material misstatement at the financial statement and relevant assertion levels in a financial statement audit, and on evaluating the sufficiency and appropriateness of the audit evidence obtained. In particular, this section provides guidance about implementing the third standard of field work, which states that the auditor must obtain sufficient appropriate audit evidence by performing audit procedures to afford a reasonable basis for an opinion regarding the financial statements under audit.

AU sec. 318
(superseded)

 

SAS No. 111

Amendment to Statement on Auditing Standards No. 39, Audit Sampling
This section provides guidance for planning, performing, and evaluating audit samples. It describes uncertainty, substantive tests of details, tests of controls, and dual-purpose samples. The section also explains how to select a sampling approach.

AU sec. 350
(superseded)

AU sec. 9350
(superseded)

SAS No. 113

Omnibus—2006

(superseded):
AU sec. 150.02 and .04
AU sec. 316.35 and .46
AU sec. 328.41
AU sec. 333.09
AU sec. 341.02
AU sec. 342.10 and .13
AU sec. 560.12
(superseded)
AU sec. 9341
AU sec. 9342
AU sec. 9560

 SAS No. 114

The Auditor’s Communication With Those Charged With Governance
This section establishes standards and provides guidance on the auditor’s communication with those charged with governance in relation to an audit of financial statements. It describes the role of communication, legal considerations, those who are charged with governance, management, matters to be communicated, the communication process, and documentation.

AU sec. 380
(superseded)
 

 SAS No. 115

Communicating Internal Control Related Matters Identified in an Audit
This section establishes standards and provides guidance on communicating matters related to an entity’s internal control over financial reporting identified in an audit of financial statements. It is applicable whenever an auditor expresses or disclaims an opinion on financial statements. The section defines the terms deficiency in internal controlsignificant deficiency, and material weakness; provides guidance on evaluating the severity of deficiencies in internal control identified in an audit of financial statements; and requires the auditor to communicate, in writing, to management and those charged with governance, significant deficiencies and material weaknesses identified in an audit.

AU sec. 325
(superseded)

AU sec. 9325
(superseded)

 SAS No. 116

Interim Financial Information
This section establishes standards and provides guidance on the nature, timing, and extent of the procedures to be performed by an independent accountant when conducting a review of interim financial information.

AU sec. 722
(superseded)

 

 SAS No. 117

Compliance Audits
This section is applicable when an auditor is engaged, or required by law or regulation, to perform a compliance audit in accordance with generally accepted auditing standards, the standards for financial audits under Government Auditing Standards, and a governmental audit requirement that requires an auditor to express an opinion on compliance.

AU sec. 801
(superseded)

 

 SAS No. 118

Other Information in Documents Containing Audited Financial Statements
This section addresses the auditor’s responsibility in relation to other information in documents containing audited financial statements and the auditor’s report thereon.

(superseded):
AU sec. 550
AU sec. 551

AU sec. 9551
(superseded)

 SAS No. 119

Supplementary Information in Relation to the Financial Statements as a Whole
This section addresses the auditor’s responsibility when engaged to report on whether supplementary information is fairly stated, in all material respects, in relation to the financial statements as a whole.

 AU sec. 551
(superseded)

AU sec. 9551 
(superseded)

 SAS No. 120

Required Supplementary Information
This section addresses the auditor’s responsibility with respect to information that a designated accounting standard setter requires to accompany an entity’s basic financial statements (required supplementary information).

 AU sec. 558
(superseded)

 

SAS No. 121

Revised Applicability of Statement on Auditing Standards No. 100, Interim Financial Information
This section amends paragraph .05 of AU section 722 such that AU section 722 would be applicable when the accountant audited the entity’s latest annual financial statements, and the appointment of another accountant to audit the current year financial statements is not effective prior to the beginning of the period covered by the review.

AU sec. 722
(superseded)

 

Recently Issued AICPA SASs and Interpretations

SAS No. 141, Amendment to the Effective Dates of SAS Nos. 134–140

SAS No. 140, Amendments to AU-C Sections 725, 730, 930, 935, and 940 to Incorporate Auditor Reporting Changes From SAS Nos. 134 and 137 (SAS No. 141 delays the effective date to December 15, 2021, and the Auditing Standards Board recommends that SAS Nos. 134–140 be implemented concurrently)

SAS No. 139, Amendments to AU-C Sections 800, 805, and 810 to Incorporate Auditor Reporting Changes From SAS No. 134 (SAS No. 141 delays the effective date to December 15, 2021, and the Auditing Standards Board recommends that SAS Nos. 134–140 be implemented concurrently)

SAS No. 138, Amendments to the Description of the Concept of Materiality (SAS No. 141 delays the effective date to December 15, 2021, and the Auditing Standards Board recommends that SAS Nos. 134–140 be implemented concurrently)

SAS No. 137, The Auditor’s Responsibilities Relating to Other Information Included in Annual Reports (SAS No. 141 delays the effective date to December 15, 2021, and the Auditing Standards Board recommends that SAS Nos. 134–140 be implemented concurrently)

SAS No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (SAS No. 141 delays the effective date to December 15, 2021, and the Auditing Standards Board recommends that SAS Nos. 134–140 be implemented concurrently)

SAS No. 135, Omnibus Statement on Auditing Standards – 2019 (SAS No. 141 delays the effective date to December 15, 2021, and the Auditing Standards Board recommends that SAS Nos. 134–140 be implemented concurrently)

SAS No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements (SAS No. 141 delays the effective date to December 15, 2021, and the Auditing Standards Board recommends that SAS Nos. 134–140 be implemented concurrently)

Auditing Interpretations