Statements on Auditing Standards (United States): Difference between revisions
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==References== |
==References== |
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*Mark S. Beasley, Joseph V. Carcello, (October 28, 2005) ''Miller GAAS Guide 2006: A Comprehensive Restatement of Standards for Auditing, Attestation, Compilation, and Review'', CCH (publisher), ISBN 9780808089865 |
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==External links== |
==External links== |
Revision as of 17:45, 22 September 2007
In the United States, Statements on Auditing Standards provide guidance to external auditors on generally accepted auditing standards (abbreviated as GAAS) in regards to auditing an entity and issuing a report. They are promulgated by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA), which holds all copyright on the Standards. They are commonly abbreviated as "SAS" followed by their respective number and title.
List of Statements of Auditing Standards
No. | Title | Issue Date | Status |
---|---|---|---|
1 | Codification of Auditing Standards and Procedures | November 1972 | In effect |
2 | Reports on Audited Financial Statements | October 1974 | Superseded by SAS 58 |
3 | The Effects of EDP on the Auditor’s Study and Evaluation of Internal Control | December 1974 | Superseded by SAS 48 |
4 | Quality Control Considerations for a Firm of Independent Auditors | December 1974 | Superseded by SAS 25 |
5 | The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" in the Independent Auditor's Report | July 1975 | Superseded by SAS 69 |
6 | Related Party Transactions | July 1975 | Superseded by SAS 45 |
7 | Communications Between the Predecessor and Successor Auditors | October 1975 | Superseded by SAS 84 |
8 | Other Information in Documents Containing Audited Financial Statements | December 1975 | In effect |
9 | The Effect of an Internal Audit Function on the Scope of the Independent Auditor's Examination | December 1975 | Superseded by SAS 65 |
10 | Limited Review of Interim Financial Information | December 1975 | Superseded by SAS 24 |
11 | Using the Work of a Specialist | December 1975 | Superseded by SAS 73 |
12 | Inquiry of a Client's Lawyer Concerning Litigation, Claims, and Assessments | January 1976 | In effect |
13 | Reports on a Limited Review of Interim Financial Information | May 1976 | Superseded by SAS 24 |
14 | Special Reports | December 1976 | Superseded by SAS 62 |
15 | Reports on Comparative Financial Statements | December 1976 | Superseded by SAS 58 |
16 | The Independent Auditor's Responsibility | January 1977 | Superseded by SAS 53 |
17 | Illegal Acts by Clients | January 1977 | Superseded by SAS 54 |
18 | Unaudited Replacement Cost-Information | May 1977 | Withdrawn by the ASB |
19 | Client Representations | June 1977 | Superseded by SAS 85 |
20 | Required Communication of Material Weaknesses in Internal Accounting Control | August 1977 | Superseded by SAS 60 |
21 | Segment Information | December 1977 | Withdrawn by the ASB |
22 | Planning and Supervision | March 1978 | In effect |
23 | Analytical Review Procedures | October 1978 | Superseded by SAS 56 |
24 | Review of Interim Financial Information | March 1979 | Superseded by SAS 36 |
25 | The Relationship of Generally Accepted Auditing Standards to Quality Control Standards | November 1979 | In effect |
26 | Association with Financial Statements | November 1979 | In effect |
27 | Supplementary Information Required by the Financial Accounting Standards Board | December 1979 | Superseded by SAS 52 |
28 | Supplementary Information on the Effects of Changing Prices | June 1980 | Superseded by SAS 52 |
29 | Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents | July 1980 | In effect |
30 | Reporting on Internal Accounting Control | July 1980 | Superseded by SSAE 2 |
31 | Evidential Matter | August 1980 | In effect |
32 | Adequacy of Disclosure of Financial Statements | October 1980 | In effect |
33 | Supplementary Oil and Gas Reserve Information | October 1980 | Superseded by SAS 45 |
34 | The Auditor's Consideration When a Question Arises About and Entity's Continued Existence | March 1981 | Superseded by SAS 59 |
35 | Special Reports-Applying Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement | April 1981 | Superseded by SAS 75 |
36 | Review of Interim Financial Information | April 1981 | Superseded by SAS 71 |
37 | Filings Under Federal Securities Statutes | April 1981 | In effect |
38 | Letters for Underwriters | April 1981 | Superseded by SAS 49 |
39 | Audit Sampling | June 1981 | In effect |
40 | Supplementary Mineral Reserve Information | February 1982 | Superseded by SAS 52 |
41 | Working Papers | April 1982 | Superseded by SAS 96 |
42 | Reporting on Condensed Financial Statements and Selected Financial Data | September 1982 | In effect |
43 | Omnibus Statement on Auditing Standards | August 1982 | Superseded by various SAS |
44 | Special-Purpose Reports on Internal Accounting Control at Service Organizations | December 1982 | Superseded by SAS 70 |
45 | Omnibus Statement on Auditing Standards-1983 | August 1983 | In effect |
46 | Consideration of Omitted Procedures After the Report Date | September 1983 | In effect |
47 | Audit Risk and Materiality in Conducting an Audit | December 1983 | In effect |
48 | The Effects of Computer Processing on the Audit of Financial Statements | July 1984 | In effect |
49 | Letters for Underwriters | September 1984 | Superseded by SAS 72 |
50 | Reports on the Application of Accounting Principles | July 1986 | In effect |
51 | Reporting on Financial Statements Prepared for Use in Other Countries | July 1986 | In effect |
52 | Omnibus Statement on Auditing Standards-1987 | April 1988 | In effect |
53 | The Auditor's Responsibility to Detect and Report Errors and Irregularities | April 1988 | Superseded by SAS 82 |
54 | Illegal Acts by Clients | April 1988 | In effect |
55 | Consideration of Internal Control in a Financial Statement Audit | April 1988 | In effect |
56 | Analytical Procedures | April 1988 | In effect |
57 | Auditing Accounting Estimates | April 1988 | In effect |
58 | Reports on Audited Financial Statements | April 1988 | In effect |
59 | The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern | April 1988 | In effect |
60 | Communication of Internal Control Related Matters Noted in an Audit | April 1988 | Superseded by SAS 112 |
61 | Communication With Audit Committees | April 1988 | In effect |
62 | Special Reports | April 1989 | In effect |
63 | Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance | April 1989 | Superseded by SAS 68 |
64 | Omnibus Statement on Auditing Standards-1990 | December 1990 | In effect |
65 | The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements | April 1991 | In effect |
66 | Communication of Matters About Interim Financial Information Filed or to Be Filed with Special Regulatory Agencies-An Amendment to SAS No. 36: Review of Interim Financial Information | June 1991 | Superseded by SAS 71 |
67 | The Confirmation Process | November 1991 | In effect |
68 | Compliance Auditing Considerations in Audits of Governmental Financial Assistance | December 1991 | Superseded by SAS 74 |
69 | The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" | January 1992 | In effect |
70 | Service Organizations | April 1992 | In effect |
71 | Interim Financial Information | May 1992 | Superseded by SAS 100 |
72 | Letters for Underwriters and Certain Other Requesting Parties | February 1993 | In effect |
73 | Using the Work of a Specialist | July 1994 | In effect |
74 | Compliance Auditing Considerations in Audits of Governmental Financial Assistance | February 1995 | In effect |
75 | Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement | September 1995 | Superseded by SAS 93 |
76 | Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties | September 1995 | In effect |
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 | November 1995 | In effect |
78 | Consideration of Internal Control in a Financial Statement Audit: An Amendment to Statement on Auditing Standards No. 55 | December 1995 | In effect |
79 | Amendment to Statement on Auditing Standards No. 58: Reports on Audited Financial Statements | December 1995 | In effect |
80 | Amendment to Statement on Auditing Standards No. 31: Evidential Matter | December 1996 | In effect |
81 | Auditing Investments | December 1996 | Superseded by SAS 92 |
82 | Consideration of Fraud in a Financial Statement Audit | February 1997 | Superseded by SAS 99 |
83 | Establishing and Understanding With the Client | October 1997 | In effect |
84 | Communications Between the Predecessor and Successor Auditors | October 1997 | In effect |
85 | Management Representations | November 1997 | In effect |
86 | Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties | March 1998 | In effect |
87 | Restricting the Use of the Auditor's Report | September 1998 | In effect |
88 | Service Organizations and Reporting on Consistency | December 1999 | In effect |
89 | Audit Adjustments | December 1999 | In effect |
90 | Audit Committee Communications | December 1999 | In effect |
91 | Federal GAAP Hierarchy | April 2000 | In effect |
92 | Auditing Derivative Instruments, Hedging Activities, and Investments in Securities | September 2000 | In effect |
93 | Omnibus Statement on Auditing Standards-2000 | October 2000 | In effect |
94 | The Effect of Information Technology on the Auditor's Consideration of Internal Control in a Financial Statement Audit | May 2001 | In effect |
95 | Generally Accepted Auditing Standards | December 2001 | In effect |
96 | Audit Documentation | January 2002 | Superseded by SAS 103 |
97 | Amendement to Statement on Auditing Standards No. 50: Reports on the Application of Accounting Principles | June 2002 | In effect |
98 | Omnibus Statement on Auditing Standards-2002 | September 2002 | In effect |
99 | Consideration of Fraud in a Financial Statement Audit | October 2002 | In effect |
100 | Interim Financial Information | November 2002 | In effect |
101 | Auditing Fair Value Measurements and Disclosures | January 2003 | In effect |
102 | Defining Professional Requirements in Statements on Auditing Standards | December 2005 | In effect |
103 | Audit Documentation | December 2005 | In effect |
104 | Amendement to Statement on Auditing Standards No. 1: Codification of Auditing Standards and Procedures (Due Professional Care in the Performance of Work) | February 2006 | In effect |
105 | Amendment to Statement on Auditing Standards No. 95: Generally Accepted Auditing Standards | February 2006 | In effect |
106 | Audit Evidence | February 2006 | In effect |
107 | Audit Risk and Materiality in Conducting an Audit | February 2006 | In effect |
108 | Planning and Supervision | February 2006 | In effect |
109 | Understanding the Entity and its Environment and Assessing the Risks of Material Misstatements | February 2006 | In effect |
110 | Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained | February 2006 | In effect |
111 | Amendment to Statement on Auditing Standards No. 39: Audit Sampling | February 2006 | In effect |
112 | Communicating Internal Control Related Matters Identified in an Audit | May 2006 | In effect |
Brief description of SAS in effect
- Statement on Auditing Standards (SAS) No. 55: Consideration of Internal Control requires the auditor to obtain an understanding of an entity’s internal control sufficient to plan any audit on such entity. Identifying and evaluating relevant controls is an important step in the user auditor’s overall audit approach.
- Statement on Auditing Standards (SAS) No. 70: Service Organizations is generally applicable when an auditor (“user auditor”) is auditing the financial statements of an entity (“user organization”) that obtains services from another organization (“service organization”). Service organizations that provide such services could be application service providers, bank trust departments, claims processing centers, Internet data centers, or other data processing service bureaus. SAS 70 provides guidance to enable an independent auditor, commonly known as a “service auditor” under this type of audit, to issue an opinion on a service organization’s description of controls through a Service Auditor’s Report. However, SAS 70 is not a pre-determined set of control objectives or control activities that service organizations must achieve.
- Statement on Auditing Standards (SAS) No. 99: Consideration of Fraud in a Financial Statement Audit requires the auditor to obtain an understanding of an entity’s internal control sufficient to plan any audit to be performed on such entity. Identifying and evaluating relevant controls is generally an important step in the user auditor’s overall approach.
This list is incomplete; you can help by adding missing items. |
See also
Notes
References
- Mark S. Beasley, Joseph V. Carcello, (October 28, 2005) Miller GAAS Guide 2006: A Comprehensive Restatement of Standards for Auditing, Attestation, Compilation, and Review, CCH (publisher), ISBN 9780808089865