AICPA STATEMENTS ON AUDITING STANDARDS
SAS
No.
1
Title
Codification of Auditing Standards and Procedures
AU
Section
See Part II of
Cross-References
To SASs section
7
Communications Between Predecessor and Successor Auditors
315
8
Other Information in Documents Containing Audited Financial Statements
550
12
Inquiry of a Client's Lawyer Concerning Litigation, Claims, and Assessments
337
19
Client Representation
333
21
Segment Information
435
22
Planning and Supervision
311
25
The Relationship of Generally Accepted Auditing Standards to Quality Control Standards
161
26
Association With Financial Statements
504
29
Reporting on Information Accompanying the Basic Financial Statements in Auditor
31
Evidential Matter
32
Adequacy of Disclosure of Financial Statements
431
37
Filings Under Federal Securities Statutes
711
39
Audit Sampling
350
Submitted Documents
41
Working Papers
43
Omnibus Statements on Auditing Standards
551
326
339
150.06; 331.14
350.46; 420.15
901.01; 901.24
901.28
45
Omnibus Statement on Auditing Standards-1983
313; 334
46
Consideration of Omitted Procedures After the Report Date
47
Audit Risk and Materiality in Conducting an Audit
390
48
The Effects of Computer Processing on the Audit of Financial Statements
50
Reports on the Application of Accounting Principles
625
51
Reporting on Financial Statements Prepared for Use in Other Countries
534
312
311.03; 311.09-.10;
326.12
52
Omnibus Statement on Auditing Standards-1987
53
The Auditors Responsibility to Detect and Report Errors and Irregularities
551.15; 558
54
Illegal Acts by Clients
317
56
Analytical Procedures
329
57
Auditing Accounting Estimates
342
58
Reports on Audited Financial Statements
508
59
The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern
341
60
Communication of Internal Control Related Matters Noted in an Audit
325
61
Communication With Audit Committees
380
62
Special Reports
64
Omnibus Statement on Auditing Standards-1990
316A
623
341.12; 508.83;
543.16
65
The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements
322
67
The Confirmation Process
330
69
The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles
in the Independent Auditor's Report
411
AICPA STATEMENTS ON AUDITING STANDARDS
SAS
No.
Title
AU
Section
70
Reports on the Processing of Transactions by Service Organizations
324
71
Interim Financial Information
722
72
Letters for Underwriters and Certain Other Requesting Parties
634
73
Using the Work of a Specialist
336
74
Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of
76
Amendments to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain
Governmental Financial Assistance
Other Requesting Parties
801
634.01; 634.09;
634.10; 634,34
AT 300.01
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
311.05; 341.13;
No. 62, Special Reports
544.02; 544.04;
623.05; 623.08
78
Consideration of Internal Control in a Financial Statement Audit: An Amendment to Statement
79
Amendment to Statement on Auditing Standards No. 58, Reports on Audited Financial
80
Amendment to Statement on Auditing Standards No. 31, Evidential Matter
326
81
Auditing Investments
332
82
Consideration of Fraud in a Financial Statement Audit
316
83
Establishing an Understanding with the Client
310
84
Communications Between Predecessor and Successor Auditors
315
85
Management Representations
333
86
634
87
Amendment to SAS No. 72, Letters for Underwriters and Certain Other Reporting Parties. Amendment is
effective for comfort letters issued on or after June 30, 1998.
Restricting the Use of an Auditor’s Report Statement is effective for reports issued after December 31, 1998
88
Service Organization and Reporting on Consistency
89
Audit Adjustments
on Auditing Standards No. 55
Statements
319
508
532
324; 420
310.06; 333.06,
333.16; 380.09;
and 380.10
90
Audit Committee Communications
92
Auditing Derivates Instruments, Heading Activities and Investments in Securities
93
Omnibus Statement on Auditing Standards - 2000
380.03; 380.11;
and 722.25-.27
332
315.02; 315.12
411 (title)
94
95
The Effect of Information Technology on the Auditor’s Consideration of Internal Control in a Financial
Statement Audit
Generally Accepted Auditing Standards
96
Audit Documentation
97
N/A
411.01; 508.08
and 622
319
150
339
AICPA STATEMENTS ON AUDITING STANDARDS
SAS
No.
98
Title
Omnibus Statement on Auditing Standards-2002
AU
Section
150.05
161.02 and .03
312.34-41
324; 508.65
558.08 & .10
558.02; 561.03
560.01
530.03-.05
230; 336
99
Consideration of Fraud in a Financial Statement Audit
100
Interim Financial Information
101
Auditing for Fair Value Measurements and Disclosures
102
Defining Professional Requirements in Statements on Auditing Standards
120; 150
103
Audit Documentation
339; 530
104
Amendment to Statement on Auditing Standards No. 1, Codification of Auditing Standards and Procedures
(“Due Professional Care in the Performance of Work”)
230
105
Amendment to Statement on Auditing Standards No. 95, Generally Accepted Auditing Standards
150
106
Audit Evidence
326
107
Audit Risk and Materiality in Conducting an Audit –
312
108
Planning and Supervision
311
722
328
109
Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
314
110
Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained –
318
111
Amendment to Statement of Auditing Standards No. 39, Audit Sampling
350
112
Communicating Internal Control Related Matters Identified in an Audit
325
113
Omnibus Statement on Auditing Standards – 2006
114
Auditor’s Communication With Those Charged With Governance.
115
Communicating Internal Control Related Matters Identified in an Audit
116
Interim Financial Information – Amendment to AU Section 722, Interim Financial Information.
722
117
801
121
Compliance Audits – This Statement applies when the auditor is required to perform a compliance audit in
accordance with all of the following: GAAS; GAGAS; and a governmental audit requirement that requires an
auditor to express an opinion on compliance (Single Audit and audits performed under the HUD Consolidated
Audit Guide for Audits of HUD Programs.). SAS 117 became effective for audits of fiscal periods ending on or
after June 15, 2010 (FY10)
Other Information in Documents Containing Audited Financial Statements – This Statement eliminated the
distinctions between other information included in an auditor-submitted document versus a client-prepared
document. It establishes various requirements regarding the auditor’s responsibilities regarding other
information included in documents containing audited financial statements. The Statement is effective for audits
of financial statements for periods beginning on or after December 15, 2010 (FY12), with early application
permitted.
Supplementary Information in Relation to the Financial Statements as a Whole – With regard to other
information (SI) contained in a document with audited financial statements, this Statement establishes the
requirements for: (1) determining whether the SI is fairly stated in relation to the financial statements as a
whole; (2) management representations regarding SI; (3) procedures to be performed on the SI using the same
materiality level as that used in the audit; and (4) auditor reporting on the SI. This Statement is effective for
audits of financial statements for periods beginning on or after December 15, 2010 (FY12), with early
application permitted.
Required Supplementary Information - This Statement: (1) defines required supplementary information (RSI);
(2) establishes auditor reporting responsibilities regarding RSI; (3) establishes required audit procedures
including obtaining management representations regarding the RSI; (4) requires communication with the
governing board regarding management limitation of scope; (5) establishes the auditor’s reporting responsibility
related to the RSI. The Statement is effect for audits of financial statements for the periods beginning on or after
December 15, 2 010 (FY12), with early application permitted.
Revised Applicability of Statement on Auditing Standards No. 100, Interim Financial Information
122
SAS 122 contains the Preface to Codification of Statements on Auditing Standards, Principles Underlying an
Various AU-C
118
119
120
150;316;328;333;341;
342;560
311;341;380
325
551
551
558
722
123
124
125
126
127
128
Audit Conducted in Accordance with Generally Accepted Auditing Standards, and 39 additional clarified
Statements on Auditing Standards. This Statement recodifies and supersedes all outstanding SASs through No.
121 except the following seven: SAS No. 51; SAS No. 59; SAS No. 65; SAS No. 87; and SAS 117 to SAS 120.
SAS 122 also withdraws SAS 26, Association with Financial Statements, as amended. SAS 122 contains “AUC” section numbers instead of “AU” section numbers. “AU-C” is a temporary identifier to avoid confusion with
references to the existing “AU” sections, which remain effective through 2013. The “AU-C” identifier will
revert to “AU” in 2014, when SAS 122 becomes fully effective for all engagements. SAS 122 is effective for
audits of financial statements for periods ending on or after December 15, 2012 (FY13). Individual AU-C
sections may provide additional effective date information.
Omnibus Statement on Auditing Standards – 2011 – This SAS amends the following to conform SAS Nos. 117118 to SAS No. 122 and address other changes required due to the Clarity Project in AU-C sections: 200,
Overall Objectives; 230, Audit Documentation; 260, The Auditor’s Communication With Those Charged With
Governance; 705, Modifications to the Opinion; and 915, Reports on Application of Requirements of an
Applicable Financial Reporting Framework. This SAS was issued October 2011 and is effective for audits of
financial statements for periods ending on or after December 15, 2012 (FY13).
Financial Statements Prepared in Accordance With a Financial Reporting Framework Generally Accepted in
Another Country – This Statement supersedes SAS No. 51, Reporting on Financial Statements Prepared for Use
in Another Country, and redrafts that statement to apply the ASB’s established clarity drafting conventions.
This statement requires the auditor, in instances where a report that is to be used in the United States was
prepared in accordance with a financial reporting framework generally accepted in another country, to include
an emphasis-of-matter paragraph to highlight the foreign financial reporting framework, but permits the auditor
to express an unqualified opinion. This Statement does not apply to audit engagement of NM governmental
entities. This SAS was issued October 2011 and is effective for audits of financial statements for periods ending
on or after December 15, 2012 (FY13).
Alert That Restricts the Use of the Auditor’s Written Communication – This Statement is effective for the
auditor’s written communications issued on or after December 15, 2012 (FY13). It replaces the term “restricted
use” with “intended use” in an “other-matter” paragraph when the auditor is required to, or decides to, include
language that restricts the use of the auditor’s written communication in connection with an audit. Applicable
types of written communications are reports, letters, presentations, or communications. Circumstances in which
the auditor would “decide” to restrict the use of a communication are: when only a limited number of users
would have adequate understanding of the criteria; when the criteria are available to only specified parties; or
when the subject matter of the communication is a by-product of the engagement. See the applicable AICPA
audit guide example updated language.
The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (Redrafted) – This
Statement is effective for the audits of financial statements for periods ending on or after December 15, 2012
(FY13). The Statement supersedes SAS No. 59, The Auditor’s Consideration of an Entity’s Ability to Continue
as a Going Concern, as amended. This Statement does not significantly change or expand SAS No. 59, as
amended, but has made its format consistent with the other clarified SASs. The planned rewrite of this
Statement for the purpose of convergence with International Standards on Auditing 570, Going Concern, has
been postponed pending issuance of related FASB accounting guidance.
Statement on Auditing Standards No. 127, Omnibus Statement on Auditing Standards - 2013 – This Statement
was issued January 2013, and is effective for audits of group financial statements, and for audits of financial
statements, for periods ending on or after December 15, 2012 (FY13). It amends SAS No. 122 Section 600
“Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors).”
The amendment permits making reference to the audit of a component auditor in the auditor’s report on the
group financial statements when the component’s financial statements are prepared using a different financial
reporting framework than that used for the group financial statements, if certain conditions are met. It also
requires that the auditor of the group financial statements to take responsibility for evaluating the
appropriateness of the adjustments to convert the component’s financial statements to the financial reporting
framework used by the group. This Statement also amends SAS No. 122 Section 800, “Special
Considerations—Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks,” to
include in the bases of accounting defined as special purpose frameworks, another basis of accounting that uses
a definite set of logical, reasonable criteria that is applied to all material items appearing in financial statements.
This statement is effective for audits of financial statements for periods ending on or after December 15, 2014
(FY15). SAS No. 128 describes the external auditor’s responsibilities when using the work of internal auditors
when (1) the external auditor is using the work of the internal audit function in obtaining audit evidence; and (2)
when the external auditor is using the internal auditors to provide direct assistance under the direction,
supervision, and review of the external auditor. SAS No. 128 supersedes previous related guidance in AU-C
610. One of the things that SAS 128 requires as a prerequisite to being able to use the work of the internal audit
function, is that the external auditor evaluate the application by the internal audit function of a systematic and
disciplined approach, including quality control.
Various AU-C
AU-C 910
AU-C 905
AU-C 570
AU-C 600 and
AU-C 800
AU-C 610