ORGANIZATION AND KEY CHANGES
This book reduces the official language of Statements on Auditing Standards (SASs), Statements on Standards for Attestation Engagements (SSAEs), Statements on Standards for Accounting and Review Services (SSARSs), Public Company Accounting Oversight Board (PCAOB) Auditing Standards, and the interpretations of those standards into easy-to-read and understandable advice. It is designed to help CPAs in the application of, and compliance with, authoritative standards. Because this year marks the transition to the clarified standards resulting from the AICPA’s Clarity Project, references to the extant standards include “AU,” while references to the clarified standards include “AU-C.” It is important to refer to the Preface for additional information.
This book follows the sequence of sections of the AICPA Codification of Statements on Auditing Standards, the Codification of Statements on Standards for Attestation Engagements, and the Codification of Statements on Standards for Accounting and Review Services. Sections are divided into the following easy-to-understand parts:
Selected AICPA Practice Alerts and Audit Issues Task Force Advisories have also been summarized in certain sections.
As with all accounting and auditing publications, this book is merely a guide. It is not a substitute for professional judgment. It can, however, be a valuable reference tool.
The 2013 edition of this book is current through SAS 126, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern; SSAE 17, Reporting on Compiled Prospective Financial Statements When the Practitioner’s Independence is Impaired; and SSARS 20, Revised Applicability of Statements on Standards for Accounting and Review Services; as well as the most recent PCAOB Auditing Standard 15, Audit Evidence.
Joanne M. Flood
August 2012
18.216.94.152