Which section of the aicpas generally accepted auditing standards describes the purposes of audit documentation?
Original AU sec. 337A Show
AU sec. 337B AU sec. 337C AU sec. 9337 SAS No. 25 The Relationship of Generally Accepted Auditing Standards to Quality Control StandardsThis section describes the relationship between generally accepted auditing standards and quality control standards. AU sec. 161 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 AU sec. 9504 SAS No. 29 Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents This section provides guidance applicable to an auditor who submits a document that contains information in addition to the client's basic financial statements and the auditor's report. AU sec. 551A 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 SAS No. 37 Filings Under Federal Securities Statutes This section explains filing under federal securities statutes. AU sec. 711 AU sec. 9711 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 AU sec. 9350 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 SAS No. 43 Omnibus Statement on Auditing Standards AU sec. 331.14 AU sec. 350.47 AU sec. 901.01, .24, and .28 SAS No. 45 Related PartiesThis 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 AU sec. 9334 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 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 AU sec. 9625 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 AU sec. 9534 SAS No. 52 Omnibus Statement on Auditing Standards—1987 AU sec. 551A.15 Required Supplementary Information This section provides guidance applicable to an auditor who is required to report on supplementary information required by the Financial Accounting Standards Board, the Governmental Accounting Standards Board, or the Federal Accounting Standards Advisory Board. AU sec. 558A AU sec. 9558A 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 AU sec. 9317 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 AU sec. 9329 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 AU sec. 9342 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 AU sec. 9508 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 AU sec. 9341 SAS No. 62 Special Reports This section applies to special reports. AU sec. 623 AU sec. 9623 SAS No. 64 Omnibus Statement on Auditing Standards—1990 AU sec. 341.12–.13 AU sec. 508.74 AU sec. 543.16 AU sec. 9341AU sec. 9508 AU sec. 9543 SAS No. 65 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial StatementsThis 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 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 AU sec. 9330 SAS No. 69 The Meaning of Present Fairly in Conformity With Generally Accepted Accounting PrinciplesThis section explains the meaning of the phrase present fairly in conformity with generally accepted accounting principles. AU sec. 411 AU sec. 9411 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 AU sec. 9324 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 AU sec. 9634 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 AU sec. 9336 SAS No. 75 Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement This section has been withdrawn. AU sec. 622 AU sec. 9622 SAS No. 76 Amendments to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties AU sec. 634.01, .09, .10, and .64 AU sec. 9634 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 AU sec. 341.13 AU sec. 544.02 and .04 AU sec. 623.05 AU sec. 9341AU sec. 9623 SAS No. 79 Amendment to Statement on Auditing Standards No. 58, Reports on Audited Financial StatementsThis 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 AU sec. 9508 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 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 AU sec. 9333 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 AU sec. 9634 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 SAS No. 88 Service Organizations and Reporting on Consistency AU sec. 324.03 and .06–.10 AU sec. 420.07–.11 AU sec. 9324AU sec. 9420 SAS No. 89 Audit Adjustments AU sec. 333.06 and .16 AU sec. 9333 SAS No. 91 Federal GAAP Hierarchy AU sec. 411.14–.15, and .18 AU sec. 9411 SAS No. 92 Auditing Derivative Instruments, Hedging Activities, and Investments in SecuritiesThis 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 AU sec. 9332 SAS No. 93 Omnibus Statement on Auditing Standards—2000 AU sec. 315.02 and .12 AU sec. 411.01 AU sec. 508.08 AU sec. 9411 AU sec. 9508 SAS No. 95 Generally Accepted Auditing StandardsThis 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 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 AU sec. 9625 SAS No. 98 Omnibus Statement on Auditing Standards—2002 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. 550A.07 AU sec. 551A.12, .15–.16 AU sec. 558A.02 and .08–.11 AU sec. 560.01 AU sec. 561.01–.03 AU sec. 9324 AU sec. 9508 AU sec. 9550A AU sec. 9558A AU sec. 9561 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 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 AU sec. 9328 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 SAS No. 103 Audit Documentation AU sec. 339 AU sec. 530 AU sec. 9339 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 SAS No. 105 Amendment to Statement on Auditing Standards No. 95, Generally Accepted Auditing Standards AU sec. 150.02 SAS No. 106 Audit EvidenceThis 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 AU sec. 9326 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 AU sec. 9312 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 AU sec. 9311 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 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 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 AU sec. 9350 SAS No. 113 Omnibus—2006 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 AU sec. 9341 AU sec. 9342 AU sec. 9560 SAS No. 114 The Auditor’s Communication With Those Charged With GovernanceThis 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 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 control,significant 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 AU sec. 9325 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 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 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. AU sec. 550 AU sec. 551 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 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 Which section of the aicpa's generally accepted auditing standards describes the purposes of audit documentation?A15 Section 220 requires the auditor to review the audit work performed through review of the audit documentation.
What is audit documentation What are the purposes of audit documentation?Audit documentation is the written record of the basis for the auditor's conclusions that provides the support for the auditor's representations, whether those representations are contained in the auditor's report or otherwise.
What is SAS 114 called now?What This Document Actually Is. The correspondence you're reviewing is formally called a “SAS 114 Letter: The Auditor's Communication with Those Charged with Governance.” However, it's usually titled something much more “user-friendly.” Yours may be called: “Report to the Board” or “Report to the Trustees.”
Which section of the generally accepted auditing standards describes the nature and extent of tests of controls?Auditing Standard No. 5 establishes requirements regarding the selection of controls to be tested and the necessary nature, timing, and extent of tests of controls in an audit of internal control over financial reporting.
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