Wiley Practitioner's Guide to GAAS 2017 (eBook)

Covering all SASs, SSAEs, SSARSs, and Interpretations

Joanne M. Flood (Autor)

eBook Download: PDF

2017 | 1. Auflage
1040 Seiten
Wiley (Verlag)
978-1-119-37375-9 (ISBN)

Infos

The clearest, easiest-to-use guide to understanding all the clarified standards, including the new attestation standards-fully updated!

This comprehensive guide to understanding Generally Accepted Auditing Standards (GAAS) is not just about auditing. It addresses the toughest part of an accountant's job-identifying, interpreting, and applying the many audit, attest, review, compilation, and preparation standards relevant to a particular engagement.

Wiley Practitioner's Guide to GAAS 2017 offers a clear and accessible distillation of the official language of GAAS, Statements on Standards for Attestation Engagements (SSAEs), and Statements on Standards for Accounting and Review Services (SSARSs)-as well as advice on exactly how to remain fully compliant with each.

Wiley Practitioner's Guide to GAAS 2017 is organized according to the logical arrangement of the clarified standards, presenting each section individually, and explaining how it is related to the engagement process. Guidance is offered on the entire process, in the form of practice notes, checklists, questionnaires, and real-world examples, illustrating how the fundamental requirements of each section are applied.

Other key features include:

• A brief identification of each auditing, SSAE, and SSARS section, with effective dates and tips on how to apply it
• Highlights of new requirements in the clarified attestation standards
• Concise listing and descriptions of each section's specific mandates, including definitions
• Easy-to-read capsule summary of interpretations, plus selected technical alerts
• Helpful techniques for remaining compliant with each standard

New in GAAS 2017:

In 2016, the AICPA's Auditing Standards Board completed a major stage of its clarity project and issued SSAE No. 18. The new guidance is effective for reports dated May 1, 2017. SSAE No. 18 replaces the attestation standards, introducing major new requirements that will change practice. In this transition year, guidance on the extant attestation standards is also included. Wiley Practitioner's Guide to GAAS 2017 is completely updated to reflect all the clarified standards and provide valuable implementation information.

Joanne Flood, MBA, CPA, Rockville Center, NY has accounting experience within both a Big 4 international firm and a small firm. She has worked as a senior manager in the AICPA's Professional Development group. Joanne received her MBA in Accounting Summa Cum Laude from Adelphi University.
While in public accounting, she worked on major clients in retail, manufacturing, and finance and on small business clients in construction, manufacturing, and professional services. At the AICPA, she managed the development and wrote courses in the accounting and auditing product line. She also wrote and produced training materials in a wide variety of media, including print, video, and audio, and pioneered the AICPA's elearning product line.

Inhalt

Wiley Practitioner's Guide to GAAS 2017 1
Contents 7
Preface 11
About the Author 13
Organization and Key Changes 15
AU-C 200: Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Generally Accepted Auditing Standards 17
AU-C Original Pronouncements 17
Technical Alert 17
AU-C 200 Definitions of Terms 17
Objectives of AU-C Section 200 20
Requirements 20
Management's Responsibilities 20
Auditor's Responsibilities 20
Ethical Requirements 21
Professional Skepticism and Judgment 22
Complying With Gaas 22
GAAS and the GAAS Hierarchy 23
AU-C 210: Terms of Engagement 25
AU-C Original Pronouncement 25
Applicability 25
AU-C 210 Definitions of Terms 25
Objectives 25
Fundamental Requirements 26
Engagement Acceptance 26
Illustration 29
AU-C 220: Quality Control for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards 31
AU-C Original Pronouncements 31
Applicability 31
AU-C 220 Definitions of Terms 31
Objectives of AU-C Section 220 32
Requirements 33
Quality Control Standards 33
System of Quality Control 33
Elements of Quality Control 33
Independence2 34
Acceptance and Continuance of Client Relationships 34
Assignment of Engagement Teams 34
Engagement Performance 35
AU-C 230: Audit Documentation 37
AU-C Original Pronouncements 37
AU-C 230 Definitions of Terms 37
Objectives of AU-C Section 230 37
Requirements 38
Requirement for Audit Documentation 38
Form, Content, and Extent of Audit Documentation 38
Ownership and Confidentiality 40
Standardization of Audit Documentation 40
Preparation of Audit Documentation 40
Quality of Audit Documentation 42
Audit Documentation Deficiencies 42
Documentation Requirements in Other Sections 42
Interpretations 43
AU-C Illustrations 43
AU-C 240: Consideration of Fraud in a Financial Statement Audit 47
AU-C Original Pronouncements 47
AU-C 240 Definitions of Terms 47
Objectives of AU-C Section 240 47
Requirements 47
Description and Characteristics of Fraud 47
Basic Requirement 48
Professional Skepticism 48
Engagement Team Discussion about Fraud (Brainstorming) 48
Obtaining Information Needed to Identify Fraud Risks 49
Identifying Fraud Risks 52
Assessing Identified Risks 53
Responding to the Results of the Assessment 53
Evaluating Audit Evidence 58
Communication about Possible Fraud to Management and Those Charged with Governance 60
Documentation 63
Antifraud Programs and Controls 63
AU-C Illustrations 64
AU-C 250: Consideration of Laws and Regulations in an Audit of Financial Statements 75
AU-C Original Pronouncement 75
AU-C 250 Definition of Term 75
Objectives of AU Section 250 75
Requirements 76
Auditor's Responsibilities 76
Categories of Laws and Regulations 76
Audit Procedures 76
Response to Identified or Suspected Noncompliance with Laws and Regulations 77
Evaluation of Detected or Suspected Noncompliance with Laws and Regulations 78
Reporting Identified or Suspected Noncompliance 78
Documentation 79
AU-C 260: The Auditor's Communication with Those Charged with Governance 81
AU-C Original Pronouncements 81
AU-C Definitions of Terms 81
Objectives of AU-C Section 260 81
Requirements 82
Auditor's General Responsibility 82
Those Charged with Governance 82
Matters to Be Communicated 82
Communication Process 84
Qualitative Aspects of Accounting Practices 85
Other AU-C Sections 86
AU-C 265: Communicating Internal Control Related Matters Identified in an Audit 87
AU-C Original Pronouncements 87
Technical Alert 87
AU-C Definitions of Terms 87
Objectives 88
Requirements 88
Determining Whether Deficiencies in Internal Control Have Been Identified 88
Determination of Deficiency Severity 88
Risk Factors 88
Indicators of Material Weakness 90
Communication of Internal Control Related Matters 90
Interpretations 91
AU-C 265 Illustrations 92
AU-C 300: Planning an Audit 97
AU-C Original Pronouncements 97
Objective of AU-C Section 300 97
Requirements 97
Preliminary Engagement Activities 97
Matters to Consider in Developing an Audit Strategy 99
AU-C 315: Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement 103
AU-C Original Pronouncements 103
Technical Alert 103
Definitions of Terms 103
Objectives of AU-C Section 315 104
Overview 104
Requirements 105
Risk Assessment Procedures 105
Understanding the Entity and Its Environment, Including Internal Control 107
Assessing the Risk of Material Misstatement 112
Documentation 114
Examples of Matters to Consider When Obtaining an Understanding of the Entity and Its Environment 115
The Economy 115
The Client's Industry 115
The Client's Business: New Client 116
The Client's Business: Continuing Client 119
Using a Risk-Based, Top-Down Approach to Evaluate Internal Control 120
Effect of IT on Internal Control 122
Illustrations 125
AU-C 320: Materiality in Planning and Performing an Audit 131
AU-C Pronouncement 131
Definition of Term 131
Objective of AU-C Section 320 131
Overview 131
Materiality and Audit Risk 132
Requirements 132
Determining Materiality and Performance Materiality 132
Determining the Base 133
Nature of a Materiality Benchmark 134
Revision of Materiality 134
Documentation Requirements 134
AU-C 330: Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 135
AU-C Original Pronouncement 135
Definitions of Terms 135
Objective of AU-C Section 330 135
Overview 135
Requirements 136
Overall Responses 136
Designing the Nature, Timing, and Extent of Further Audit Procedures 137
Tests of Controls 138
Substantive Procedures 140
Evaluating the Sufficiency and Appropriateness of the Audit Evidence Obtained 141
Documentation 142
Testing at Interim Dates 142
Designing Audit Procedures 144
Tests of Internal Control Operating Effectiveness 145
Types of Tests 150
Examples of Evidential Matter That May Support the Specific Assertions Embodied in Financial Statements 156
AU-C 402: Audit Considerations Relating to an Entity Using a Service Organization 165
AU-C Original Pronouncements 165
Technical Alert 165
Definitions of Terms 165
Objectives of AU-C Section 402 166
Overview 167
Scope 167
Requirements 168
Types of Service Auditor's Reports 169
Reports on Controls Placed in Operation (Type 1) 170
Report on Controls Placed in Operation and Tests of Operating Effectiveness (Type 2) 170
Considerations in Using a Service Auditor's Report 170
AU-C 450: Evaluation of Misstatements Identified during the Audit 175
AU-C Original Pronouncement 175
Definitions of Terms 175
Objectives of AU-C Section 450 175
The Nature and Causes of Misstatements 175
Requirements 176
Accumulation of Misstatements 176
Communication and Correction of Misstatements to Management 176
Evaluating the Effect of Uncorrected Misstatements 176
The Qualitative Characteristics of Misstatements 177
Prior Period Misstatements 177
Misstatement Worksheet 178
Documentation Requirements 178
AU-C 500: Audit Evidence 179
AU-C Original Pronouncements 179
Definitions of Terms 179
Objective 179
Scope 179
Requirements 180
General Guides to Appropriateness of Evidence 180
Using a Management's Specialist 180
General Guides to Sufficiency of Evidence 180
Audit Procedures for Obtaining Audit Evidence 180
Interpretations 181
AU-C 501: Audit Evidence-Specific Considerations for Selected Items 183
AU-C Original Pronouncement 183
Definitions of Terms 183
Objectives of Au Section 501 183
Requirements-Investments in Securities and Derivative Instruments 183
Required Risk Assessment in Planning 184
Assessing Inherent Risk for an Assertion about a Derivative Instrument or a Security 184
Control Risk Assessment 185
The Effect of a Service Organization on Audit Approaches and Procedures for Securities and Derivative Instruments 186
Designing Auditing Procedures 188
Importance of Identifying and Testing Controls 188
Designing Substantive Procedures Based on Risk Assessment 189
Completeness Assertion for Derivatives 189
Valuation 189
Additional Considerations Related to Gathering Evidential Matter about Hedging Activities 192
Special Skill or Knowledge Might Be Needed to Plan or Perform Auditing Procedures Related to Derivatives or Securities 193
Illustrations-Investments in Securities and Derivative Instruments 194
Requirements-Inventory Existence and Condition 196
Timing and Extent of Inventory Observation 196
Inventory Held by a Third Party 197
Steps in the Observation of Inventory 197
Planning the Physical Inventory 198
Taking the Physical Inventory 199
Outside Inventory-Taking Firm 201
Inventory Observation Checklist 201
AU-C Illustrations-Inventory Observation 201
Requirements-Litigation, Claims, and Assessments Involving the Entity 206
Accounting Considerations 206
Audit Procedures other than Inquiry of Lawyers 207
Inquiry of Client's Lawyer 208
Evaluation of Lawyer's Response 209
Refusal of Attorney to Respond 210
Lawyer on Board of Directors 211
Litigation Not Investigated by Lawyer 211
Litigation with Insurance Company 211
Reliance on House or Inside Counsel 212
Review of Interim Financial Information 212
AU-C Illustration-Litigation, Claims, and Assessments 213
Requirements-Segment Reporting 215
AU-C 505: External Confirmations 217
AU-C Original Pronouncement 217
Definitions of Terms 217
Objective of Au-C Section 505 217
Requirements 217
Related AU-C 330 Requirements 217
Results of Confirmation Procedures 218
Management's Refusal to Allow Confirmations 218
Designing the Confirmation Request 219
The Respondent 220
Timing of Confirmation Request 220
Confirming Prior to Year-End 220
Use of Negative Form of Confirmation Request 220
Steps in Confirmation of Accounts Receivable 221
Control of Confirmations 223
Nonresponse to Confirmation Requests 224
Nondelivery of Confirmation Request 224
Confirmation Responses Not Expected 225
Evaluating the Results 226
Confirmation Checklist 226
AU-C Illustrations 226
AU-C 510: Opening Balances-Initial Audit Engagements, Including Reaudit Engagements 233
AU-C Original Pronouncement 233
Applicability 233
Definitions of Terms 233
Objectives of AU-C Section 510 234
Requirements 234
Illustrations 235
AU-C 520: Analytical Procedures 241
AU-C Original Pronouncement 241
AU-C Definition of Term 241
Objectives of AU-C Section 520 241
Overview 241
How to Use Analytical Procedures 241
Requirements 242
Analytical Procedures 242
Substantive Tests 248
Overall Review 249
Documentation 250
Permanent File for Analytical Procedures 251
AU-C Illustrations 251
AU-C 530: Audit Sampling 255
AU-C Original Pronouncement 255
AU-C Definitions of Terms 255
Objectives of AU-C Section 530 256
Overview 256
Requirements 256
Examined 100% 257
Sample Selection 257
Stratification 257
Unexamined Sample Items 257
Sample Size: Substantive Test 257
Sample Size: Test of Controls 258
Projection of Misstatements 258
Aggregation of Misstatements 258
Qualitative Aspects 258
Relating Balance Sheet and Income Statement Sampling 258
Nonsampling Techniques 258
Distinguishing Sampling from Other Audit Tests 258
Nonstatistical Audit Sampling Techniques 259
Introduction 259
Methods of Sample Selection 260
Tests of Controls 261
Substantive Tests 263
Statistical Audit Sampling Techniques 266
Introduction 266
Calculating Sample Size 266
Risk and Confidence in Substantive Tests of Details 269
Statistical Evaluation of a Sample in Substantive Tests of Details 270
Calculating Confidence Limits 270
Equal-Probability Sampling: Attributes Evaluation 271
Dollar Value Evaluation 271
Equal-Probability Sampling: Variables Evaluation 272
AU-C 540: Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures 279
AU-C Original Pronouncement 279
Definitions of Terms 279
Objective of AU-C Section 540 279
Overview 280
Requirements 280
Risk Assessment Procedures 280
Engaging a Specialist 281
Management's Intent and Ability 281
Use of Collateral in Evaluating Fair Value 282
Auditor's Responsibility 282
Identifying Circumstances That Require Material Accounting Estimates 282
Evaluating Reasonableness 283
Testing the Entity's Estimates and Disclosures 285
Illustration 287
Responding to the Assessed Risks of Material Misstatement 288
Disclosures 289
Written Representations 289
Communication with Audit Committees 289
Documentation 290
Management's Responsibilities 290
AU-C 550: Related Parties 291
AU-C Original Pronouncements 291
Definitions of Terms 291
Objectives of AU Section 550 291
Requirements 292
Accounting Considerations 292
Audit Procedures 293
Written Representations 298
Illustration 299
AU-C 560: Subsequent Events and Subsequently Discovered Facts 303
AU-C Original Pronouncement 303
Definitions of Terms 303
Objectives of AU-C Section 560 303
Overview 304
Requirements 304
Subsequent Events 304
Accounting Considerations 305
Application Techniques 305
Subsequently Discovered Facts Known to the Auditor before the Report Release Date 307
Subsequently Discovered Facts Known to the Auditor after the Report Release Date 308
Reissuance of Predecessor Auditor's Report 311
Illustration 312
AU-C 570: The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern 317
AU-C Original Pronouncement 317
AU-C Definition of Term 317
Objectives of AU-C Section 570 317
Requirements 317
Auditor's Responsibility 317
Procedures Required 318
Specific Procedures 318
Indications of Going Concern Problems 319
Consideration of Management's Plans 319
Plans to Dispose of Assets 320
Plans to Borrow Money or Restructure Debt 321
Plans to Reduce or Delay Expenditures 322
Plans to Increase Ownership Equity 322
Consideration of Management Forecasts 322
Prospective Financial Information 324
Auditor Conclusions-Substantial Doubt Exists 324
Effects on the Auditor's Report 325
Auditor Conclusions-Substantial Doubt Has Been Alleviated 325
Inadequate Disclosure 326
Eliminating a Going Concern Explanatory Paragraph from a Reissued Report 326
Documentation Requirements 326
Illustration 327
Interpretations 330
Interpretation No. 1, ``Definition of Substantial Doubt about an Entity's Ability to Continue as a Going Concern´´ (Issued January 2015) 331
Interpretation No. 2, ``Definition of Reasonable Period of Time´´ (Issued January 2014 Issued January 2015)
Interpretation No. 3, ``Interim Financial Information´´ (Issued January 2015) 331
Interpretation No. 4, ``Consideration of Financial Statements Effects´´ (Issued January 2015) 332
AU-C 580: Written Representations 333
AU-C Original Pronouncement 333
AU-C Definition of Term 333
Objectives of AU-C Section 580 333
Requirements 333
Reliance on Management Representations 333
Obtaining Written Representations 334
Tailoring the Representation Letter 335
Materiality Considerations 335
Addressing and Dating the Letter 336
Signing the Letter 336
Doubt about Reliability of Written Representation 336
Requested Representation Letter Not Provided 336
Representations Required by Other AU-C Sections 336
Auditor's Relationship with a Small or Nonpublic Client 337
Explicitly Addressing Materiality in the Written Representations 338
Au-C 580 Illustrations 338
AU-C 585: Consideration of Omitted Procedures after the Report Release Date 347
AU-C Original Pronouncement 347
Definition of Term 347
Overview 347
Professional Disagreements 347
No Substitute for Omitted Procedures 347
Distinction from Section 560 347
Objectives of AU Section 585 348
Scope 348
Requirements 348
Importance of Omitted Procedures 348
Applying Omitted Procedures 349
Inability to Apply Omitted Procedures 349
Determining Importance of Omitted Procedures 350
Illustration 351
AU-C 600: Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors) 353
AU-C Original Pronouncements 353
Technical Alert 353
Introduction 353
AU-C 600 Definitions of Terms 354
Objectives of AU-C Section 600 355
Overview 355
Requirements 356
Identifying Components 357
Interpretations 359
Interpretation No. 1, ``Auditor of Participating Employer in a Governmental Pension Plan,´´ of AU-C Section 600, Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors) (Issued April 2014) 360
Illustrations 360
Appendix A. Understanding the Group, Its Components, and Their Environments-Examples of Matters about Which the Group Engagement Team Obtains an Understanding 361
Appendix B. Examples of Conditions or Events That May Indicate Risks of Material Misstatement of the Group Financial Statements 363
Appendix C. Required and Additional Matters Included in the Group Engagement Team's Letter of Instruction 363
Exhibit A. Illustrations of Auditor's Reports on Group Financial Statements 365
Exhibit B. Illustrative Component Auditor's Confirmation Letter 371
Exhibit C. Sources of Information 372
AU-C 610: Using the Work of Internal Auditors 373
AU-C Original Pronouncement 373
Objectives of AU-C Section 610 373
Applicability of AU-C Section 610 373
Definitions of Terms 374
Overview 374
Section 315 and Understanding Internal Control 374
Responsibility of the External Auditor 374
Uses of the Internal Audit Function 376
Requirements 376
Effect of Use of Internal Auditors' Work on the Audit 376
Determining Whether Internal Audit Can Be Used to Obtain Evidence 376
Deciding to Use the Internal Audit Function 377
Procedures When Using the Internal Audit Function 378
Determining Whether Internal Audit Can Be Used to Provide Direct Assistance 378
Evaluating and Testing Effectiveness of Internal Auditors' Work 379
Documentation 380
Illustrations 381
AU-C 620: Using the Work of an Auditor's Specialist 387
AU-C Original Pronouncement 387
AU-C Definitions of Terms 387
Objectives of AU-C Section 620 387
Requirements 387
Qualifications of a Specialist 387
Agreement with the Specialist 388
Work of a Specialist 388
Relationship to Client 388
Evaluating Findings 388
Effect on Audit Report 389
Report Reference to Specialist 389
Examples of Use of a Specialist 389
Specialist Related to Client 389
Specialist Employed by CPA Firm 390
Tests of Data Used by the Specialist 390
Need to Refer to Audit Guides 391
AU-C Interpretations 391
The Use of Legal Interpretations as Audit Evidence to Support Management's Assertion That a Transfer of Financial Assets Has Met the Isolation Criterion in Paragraphs 7-14 of Financial Accounting Standards Board Codification 860-10-40 (December 2001) Revised March 2006, June 2009, October 2011
Illustrations 394
AU-C 700: Forming an Opinion and Reporting on Financial Statements 397
AU-C Original Pronouncement 397
Technical Alert 397
AU-C Definitions of Terms 397
Objectives of AU-C Section 700 398
Requirements: Forming an Opinion 398
Requirements: Auditor's Standard Report 399
Components of Auditor's Standard Report 399
Addressee 400
Requirements: Reports on Comparative Financial Statements 401
General 401
Change of Opinion 401
Reissuance of Predecessor Auditor's Report 401
Predecessor Auditor's Report Not Presented 402
Interpretations 403
Interpretation No. 1, ``Reporting on Financial Statements Prepared on a Liquidation Basis of Accounting´´ (Issued December 1984 Revised June 1993 and February 1997
Interpretation No. 2, ``Sustainability Financial Statements under Federal Financial Accounting Standards-Auditor Reporting´´ (Issued October 2015) 403
AU-C 700 Illustrations (Source: AU-C 700.58) 403
AU-C 705: Modifications to the Opinion in the Independent Auditor's Report 411
AU-C Original Pronouncements 411
AU-C Definitions of Terms 411
Objective of AU-C Section 705 411
Requirements 412
Types of Modified Opinions 412
Modified Opinion Format 412
Disclaimer of Opinion 413
Inability to Obtain Sufficient Appropriate Audit Evidence 413
Adverse Opinions 415
Departure from the Applicable Financial Reporting Framework 415
AU-C 705 Illustrations (Source: AU-C 705.A32) 416
AU-C 706: Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report 429
AU-C Original Pronouncement 429
AU-C Definitions of Terms 429
Objectives of AU-C Section 706.04 429
Requirements 430
Emphasis-of-Matter and Other-Matter Paragraphs 430
Emphasis-of-Matter Paragraph 430
Other Matters in the Auditor's Report 431
Communication 431
AU-C 706 Illustrations 431
AU-C 708: Consistency of Financial Statements 437
AU-C Original Pronouncement 437
AU-C Definition of Term 437
Objectives of AU-C Section 708 437
Requirements 437
Consistency Implication of Auditor's Standard Report 437
Periods to Which Consistency Standard Relates 438
Changes Affecting Consistency 438
Changes Not Affecting Consistency 439
First-Year Audits 439
AU-C 720: Other Information in Documents Containing Audited Financial Statements 441
AU-C Original Pronouncements 441
AU-C Effective Date and Summary of Changes 441
AU-C Definitions of Terms 441
Objective of AU-C Section 720 441
Requirements 442
Illustration 443
AU-C 725: Supplementary Information in Relation to Financial Statements as a Whole 445
AU-C Original Pronouncements 445
AU-C Definition of Term 445
Objective of AU-C Section 725 445
Requirements 445
Opinion on Supplementary Information 447
Interpretation 447
Supplementary Information in Relation to the Financial Statements as a Whole: Auditing Interpretations of Section 725 (Issued July 2011 Revised October 2011)
AU-C 725 Illustrations 448
AU-C 730: Required Supplementary Information 451
AU-C Original Pronouncements 451
AU-C Definitions of Terms 451
Objectives of AU-C Section 730 452
Requirements 452
Procedures 452
Coordination with Other Audit Areas 452
Reporting on Supplementary Information 453
AU-C 730 Illustrations 454
AU-C 800: Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks 457
AU-C Original Pronouncements 457
AU-C Definitions of Terms 457
Objectives of AU-C Section 800 458
Scope 458
Requirements 458
Precondition for an Audit 458
Components of Auditor's Standard Report 458
AU-C 800 Illustrations (Source: AU-C 800.A36) 459
AU-C 805: Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement 467
AU-C Original Pronouncement 467
AU-C Definitions of Terms 467
Objectives of AU-C Section 805 467
Scope 468
Requirements 468
Examples and Other Services 468
Application of GAAS 468
Financial Reporting Framework 468
Scope of Audit and Level of Materiality 468
The Auditor's Report 469
Interpretation 470
Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement: Auditing Interpretations of Section 805 470
Illustrations of Auditor's Reports on a Single Financial Statement and a Specific Element of a Financial Statement (Source: Au-C 805.25) 470
AU-C 806: Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements 479
AU-C Original Pronouncements 479
AU-C Definitions of Terms 479
Objective of AU-C Section 806 479
Scope 479
Requirements 480
Agreements Requiring Compliance Reports 480
Request for Assurance 480
Separate Auditor's Report 480
Assurance Given in Auditor's Report on the Financial Statements 481
AU-C 806 Illustrations (Source: AU-C 806.A8) 481
AU-C 810: Engagements to Report on Summary Financial Statements 487
AU-C Original Pronouncement 487
Definitions of Terms 487
Objectives of Au-U Section 810 487
Scope 487
Requirements 488
Engagement Acceptance 488
Procedures 488
AU-C 810 Illustrations (Source: AU-C 810.A22) 490
AU-C 905: Alert That Restricts the Use of the Auditor's Written Communication 497
AU-C Original Pronouncement 497
AU-C Definition of Term 497
Objectives of AU-C Section 905 497
Requirements 497
Reports Required to Be Restricted 497
Required Restricted-Use Report Language 498
Adding Other Specified Parties 498
Limiting Report Distribution 498
Inclusion of a Separate Restricted-Use Communication and a Separate General-Use Communication in the Same Document 498
Combined Communication Covering Both Restricted-Use and General-Use Subject Matter or Presentations 499
AU-C 905 Illustrations 499
AU-C 910: Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country 503
AU-C Original Pronouncement 503
Technical Alert 503
Au-C Definitions of Terms 503
Objectives of AU-C Section 910 503
Scope 503
Requirements 504
Terms of Engagement 504
Compliance with Foreign Auditing Standards 504
Reporting 505
AU-C 910 Illustrations (Source: AU-C 910.A11) 505
AU-C 915: Reports on Application of Requirements of an Applicable Financial Reporting Framework 509
AU-C Original Pronouncements 509
Applicability 509
AU-C Definitions of Terms 510
Objective of AU-C Section 915 510
Requirements 511
Engagement Acceptance 511
Applicability to Proposals 511
Engagement, Acceptance, Planning, and Performance 512
Reporting Standards 513
Documentation 513
AU-C 915 Illustration (Source: AU-C 915.A8) 514
AU-C 920: Letters for Underwriters and Certain Other Requesting Parties 515
AU-C Original Pronouncements 515
Applicability 515
AU-C Definitions of Terms 516
Objectives of AU-C Section 920 517
Scope 517
Requirements: General 518
Engagement Acceptance 518
Representation Letter 518
Reports to Other Parties 518
Communications with Underwriter 518
Draft Comfort Letter 518
Auditor of the Group Financial Statements 519
Shelf Registration 519
Issuance of Letters or Reports under Other Standards 520
Requirements: Format and Contents of Comfort Letters 520
Dating of Comfort Letter 520
Addressee 520
Introductory Paragraph 520
Independence 521
Compliance as to Form with SEC Requirements 522
Requirements: Commenting in a Comfort Letter on Information Other Than Audited Financial Statements 522
General 522
Knowledge of Internal Control 523
Unaudited Interim Financial Information 523
Capsule Financial Information 523
Pro Forma Financial Information 524
Financial Forecasts 524
Subsequent Changes 525
Tables, Statistics, and Other Financial Information 525
Requirements: Other Matters 527
Concluding Paragraph 527
Disclosure of Subsequently Discovered Matters 527
AU-C 920 Illustrations 527
AU-C 925: Filings with the US Securities and Exchange Commission under the Securities Act of 1933 553
AU-C Original Pronouncement 553
AU-C Definitions of Terms 553
Objectives of AU-C Section 925 553
Requirements 553
Accountant's Responsibility 553
Accountant's Report: Review of Interim Financial Information 554
Subsequent Events Procedures 554
Response to Subsequent Events and Subsequently Discovered Facts: Audited Financial Statements 556
Response to Subsequent Events and Subsequently Discovered Facts: Unaudited Financial Statements or Unaudited Interim Financial Information 556
AU-C 925 Illustration 557
AU-C 930: Interim Financial Information 559
AU-C Original Pronouncement 559
AU-C Definition of Term 559
Objective of AU-C Section 930 559
Scope 559
Requirements: Review Procedures 560
Understanding with Client 560
Techniques for Application 560
Engagement Letter 561
Knowledge of the Entity's Business and Internal Control 562
Required Review Procedures 563
Inquiries Concerning Litigation, Claims, and Assessments 565
Inquiries Concerning Going Concern Issues 565
Extension of Interim Review Procedures 566
Timing of Review Procedures and Coordination with the Audit 566
Written Representations from Management 566
Evaluating the Results of Interim Review Procedures 568
Subsequent Discovery of Facts Existing at the Date of Report 568
Other Information 569
Successor Auditors 569
Additional Guidance 569
Documentation 569
Requirements: Communication With Management and Those Charged With Governance 570
Required Communications 570
Reportable Conditions 570
Communications to Management 570
Lack of Appropriate Management Response 570
Oral Communication 570
Lack of Appropriate Response from Those Charged with Governance 570
Fraud or Illegal Acts 571
Significant Deficiencies or Material Weaknesses 571
Requirements: Auditor's Report 571
Description of Interim Financial Information 571
Date of Report and Addressee 571
Form of Auditor's Review Report 571
Reference to Report of Another Auditor 572
Modification of the Review Report 572
Client Representation about Auditor's Review 573
Requirements: Interim Financial Information Accompanying Audited Financial Statements 573
Presentation of Interim Financial Information 573
The Auditor's Report 573
Interpretations 574
AU-C 930 Illustrations 574
Illustrative Management Representation Letters for a Review of Interim Financial Information (AU-C 930.A56) 574
Illustrations of Auditor's Review Reports on Interim Financial Information (Source: AU-C 930.A57) 577
Illustrations of Example Modifications to the Auditor's Review Report Due to Departures from the Applicable Financial Reporting Framework (AU-C 930.A58) 582
AU-C 935: Compliance Audits 585
AU-C Original Pronouncements 585
Technical Alert 585
AU-C 935 Definitions of Terms 585
Objectives of AU-C Section 935 587
Scope 587
Requirements 588
Application of AU-C Sections to a Compliance Audit 588
Sources of Information Regarding Compliance Requirements 588
Suggested Audit Procedures 588
Management's Responsibilities 588
The Compliance Audit Process Flow 588
Material Noncompliance Risks 590
Reporting Requirements 591
Documentation 593
Reissuance of the Compliance Report 593
AU-C Illustrations 594
AU-C 940: An Audit of Internal Control over Financial Reporting That Is Integrated with an Audit of Financial Statements 597
AU-C Original Pronouncement 597
Technical Alert 597
AU-C 940 Definitions of Terms 597
AU-C 940 Objectives 598
Scope 598
Requirements 599
Required Conditions for Engagement Acceptance 599
Evidence Supporting Management's Assessment 599
Integrating the Controls Examination with the Financial Statement Audit 599
Risk Assessment 600
Using the Work of Others 600
Planning the Engagement 600
Use a Top-Down Approach 601
Testing Controls 602
Evaluating Control Deficiencies 604
Forming an Opinion 605
Reporting Requirements 607
Adverse Opinions 608
Other Topics 610
Illustrations 611
Illustrative Auditor's Reports (AU-C 940.A165) 611
Illustrative Written Communication of Significant Deficiencies and Material Weaknesses (AU-C 940.A156) 620
Illustrative Management Report (AU-C 940.A157) 621
AT-C: Preface 623
Technical Alert 623
AT-C Organization 623
Organization of Each Section 623
Structure of the Clarified Attestation Standards 624
Significant Changes 624
At-C Preface 624
Attestation Engagement Purpose and Premise 624
Responsibilities of the Responsible Party 625
Responsibilities of the Practitioner 625
Performance Requirements 625
Reporting 625
Appendix 626
Definitions of Terms 626
AT-C 105: Concepts Common to All Attestation Engagements 637
Original Pronouncement 637
Applicability and Written Assertion 637
Objectives 637
Definitions of Terms 638
Requirements 638
Quality Control 638
Compliance with Relevant AT-C Sections 638
Report Format Dictated by Law or Regulation 638
Professional Requirements in the Attestation Standards 638
Preconditions for an Attestation Engagement 638
Change in Terms of Engagement 639
Using the Work of an Other Practitioner 640
Quality Control 640
Professional Skepticism and Professional Judgment 641
Interpretations 641
Responding to Requests for Reports on Matters Relating to Solvency (Issued May 1988 Amended February 1993
Applicability of Attestation Standards to Litigation Services (July 1990 Revised January 2001
Providing Access to or Copies of Engagement Documentation to a Regulator (May 1996 Revised January 2001
AT-C 205: Examination Engagements 643
Overview 643
Objectives 643
Definitions of Terms 643
Requirements 643
Independence 643
Terms of Engagement 644
Written Assertion 646
Planning the Engagement 647
Risk Assessment Procedures 647
Materiality 647
Risks of Material Misstatement 647
Responding to Risk of Material Misstatement 648
Tests of Controls 648
Other Procedures 648
Analytical Procedures 648
Procedures Regarding Estimates 648
Sampling 649
Fraud, Laws, and Regulations 649
Responding to Fraud or Noncompliance 649
Evaluating the Reliability of the Entity's Information 649
Using the Work of a Practitioner's Specialist 650
Using Internal Auditors 650
Direct Assistance 650
Considering Subsequent Events and Subsequently Discovered Facts 651
Written Representations 651
Other Information 653
Forming an Opinion 653
The Report 654
Illustration: Practitioner's Examination Report on Subject Matter Unmodified Opinion
Restricted Use Paragraph 655
Modified Opinions 656
Communicating with the Responsible and Engaging Partners 657
Documentation 657
Interpretations 658
Reporting on Attestation Engagements Performed in Accordance with Government Auditing Standards (December 2004 Revised January 2008)
Reporting on the Design of Internal Control (Issued December 2008 Revised December 2012
Illustrations (At-C 205.A121) 659
AT-C 210: Review Engagements 665
Original Pronouncement 665
Applicability 665
Definitions of Terms 665
Objectives of Section 215 665
Requirements 666
Terms of Engagement 666
Written Assertion 668
Planning the Engagement 669
Materiality 669
Procedures 669
Analytical Procedures 669
Inquiries 670
Fraud, Laws, and Regulations 670
Responding to Fraud or Noncompliance 670
Evaluating the Reliability of the Entity's Information 670
Using the Work of a Practitioner's Specialist or Internal Auditor 670
Evaluating the Results of Procedures 671
Considering Subsequent Events and Subsequently Discovered Facts 671
Written Representations 671
Other Information 673
Forming a Conclusion 673
The Report 673
Restricted Use Paragraph 675
Modified Opinions 676
Documentation 676
Illustrations-Illustrative Practitioner'S Review Reports 677
AT-C 215 Agreed-Upon Procedures Engagements 681
Original Pronouncement 681
Applicability 681
Definitions of Terms 681
Objectives of AT-C Section 215 681
Requirements 681
Independence 681
Preconditions 682
Terms of Engagement 682
Requesting a Written Assertion 685
Procedures 685
Involvement of a Practitioner's External Specialist 686
Involvement of Internal Auditors or Other Practitioners 686
The Practitioner's Report 686
Restrictions on the Performance of Procedures 687
Adding Specified Parties 687
Knowledge of Outside Matters 688
Interpretation 688
Third-Party Due Diligence Services Related to Asset-Backed Securitizations: SEC Release No. 34-72936 688
Illustrations 689
Exhibit-Illustrative Practitioner's Agreed-Upon Procedures Reports (AT-C 215.A48) 689
AT-C 305: Prospective Financial Information 693
Original Pronouncement 693
Applicability 693
Definitions of Terms 693
Objectives-Examination Engagements 694
Objectivies-Agreed-Upon Procedures Engagements 694
Requirements: Examination of Prospective Financial Statements 694
Preconditions for an Examination Engagement 694
Training and Proficiency 695
Requesting a Written Assertion 695
Procedures 695
Written Representations 697
Report 698
Modified Opinions 700
Modification of Standard Examination Report 701
Requirements: Applying Agreed-Upon Procedures to Prospective Financial Statements 702
Preconditions for an Agreed-Upon Procedures Engagement 702
Illustration 704
AT-C 310: Reporting on Pro Forma Financial Information 707
Original Pronouncement 707
Applicability 707
Definition of Terms 708
Objectives of an Examination Engagement 708
Objectives of a Review Engagement 708
Requirements 708
Preconditions for Examination and Review Engagements 708
Procedures for Examinations and Review Engagements 709
Request for a Written Assertion 710
Request for a Written Representation 710
Form of Report on Pro Forma Financial Information 710
Practitioner's Examination Report on Pro Forma Financial Information: Unmodified Opinion 710
Practitioner's Review Report: Unmodified Conclusion 713
Illustrations 716
AT-C 315: Compliance Attestation 721
Original Pronouncement 721
Applicability 721
Definitions of Terms 721
Objectives of an Examination Engagement 722
Objectives of an Agreed-Upon Procedures Engagement 722
Requirements-Examination Engagements 722
Preconditions for Examination Engagements 722
Written Assertion-Examination Engagements 722
Reasonable Assurance-Examination Engagement 722
Procedures-Examination Engagements 723
Written Representations-Examination Engagements 724
Practitioner's Examination Report 724
Illustration 725
Modified Opinions 726
Requirements: Agreed-Upon Procedures Engagement 726
Preconditions for an Agreed-Upon Engagement 726
Understanding with Specified Parties 727
The Agreed-Upon Procedures Report 727
Illustrations 728
AT-C 320: Reporting on an Examination of Controls at a Service Organization Relevant to User Entities' Internal Control over Financial Reporting 731
Original Pronouncement 731
Applicability 731
Definitions of Terms 731
Objectives of At-C Section 320 732
Requirements 732
Management and Those Charged with Governance 732
Preconditions 732
Request to Change the Scope of the Engagement 733
Requesting a Written Assertion 733
Assessing the Suitability of the Criteria 733
Materiality 734
Obtaining an Understanding of the Service Organization's System and Assessing the Risk of Material Misstatement 734
Using the Work of the Internal Audit Function 734
Obtaining Evidence Regarding Management's Description of the Service Organization's System 734
Obtaining Evidence Regarding the Design of Controls 735
Obtaining Evidence Regarding the Operating Effectiveness of Controls 735
Evaluating the Reliability of Information Produced by the Service Organization 735
Nature and Causes of Deviations 735
Subsequent Events 736
Written Representations 736
The Service Auditor's Type 2 Report 736
Other Matters in the Report 740
Modified Opinions 742
Other Communication Responsibilities 742
Illustration 742
AT-C Section 395: (Designated for AT Section 701) Management's Discussion and Analysis (MD& A)-A Summary1,2
Original Pronouncement 747
Technical Alert 747
Applicability 747
Definition of Term 748
Objectives of At Section 395 748
Requirements: Examination 748
Acceptance 748
Performance 749
Reporting 749
Requirements: Review 749
Acceptance 749
Performance 750
Reporting 750
Illustrations 750
AT 20: Defining Professional Requirements in Statements on Standards for Attest Engagements 755
Original Pronouncement 755
Technical Alert 755
Defining Professional Requirements in Statements on Standards for Attestation Engagements 755
AT 50: SSAE Hierarchy 757
Original Pronouncement 757
Technical Alert 757
Attestation Standards 757
Attestation Interpretations 758
Other Attestation Publications 759
AT 101: Attest Engagements 761
Original Pronouncements 761
Technical Alert 761
Applicability 761
Definitions of Terms 761
Objectives of Section 101 762
Requirements 764
Attestation Standards 764
Relationship to Quality Control Standards 771
Attest Documentation 771
Establishing an Understanding with the Client 772
Representation Letter 772
Other Information in a Client-Prepared Document Containing the Practitioner's Attest Report 773
Subsequent Events 774
Interpretations 774
Defense Industry Questionnaire on Business Ethics and Conduct (Issued August 1987 Amended February 1989
Responding to Requests for Reports on Matters Relating to Solvency (Issued May 1988 Amended February 1993
Applicability of Attestation Standards to Litigation Services (July 1990 Revised January 2001)
Providing Access to, or Photocopies of, Working Papers to a Regulator (May 1996 Revised January 2001
Attest Engagements on Financial Information Included in XBRL Instance Documents (September 2003) 775
Reporting on Attestation Engagements Performed in Accordance with Government Auditing Standards (December 2004 Revised January 2008)
Reporting on the Design of Internal Control (December 2008) 776
Including a Description of Tests of Controls or Other Procedures, and the Results Thereof, in an Examination Report (July 2010) 777
Illustrations: Examination Reports 777
Illustrations: Review Reports 783
AT 201: Agreed-Upon Procedures Engagements1,2 785
Original Pronouncement 785
Technical Alert 785
Applicability 785
Definitions of Terms 786
Objectives of At Section 201 786
Requirements 787
Standards 787
Subject Matter 787
Assertion 787
Acceptance of Engagement 787
Involvement of a Specialist 788
Involvement of Internal Auditors or Others 788
Elements of Practitioner's Report 788
Dating of Report 789
Adding Specified Parties 789
Restrictions on the Performance of Procedures 790
Representation Letter 790
Knowledge of Outside Matters 790
Change from Another Engagement (Attest or Nonattest) to an Agreed-Upon Procedures Engagement 790
Interpretation 790
Third-Party Due Diligence Services Related to Asset-Backed Securitizations: SEC Release No. 34-72936 790
Techniques for Application 791
Meaning of Independence 791
Engagement Letter 791
Communication with Specified Parties 792
Procedures to Be Performed 792
Representation Letter 793
Report on Agreed-Upon Procedures in a Document Containing Financial Statements 793
Illustrations 793
AT 301: Financial Forecasts and Projections 797
Original Pronouncement 797
Technical Alert 797
Applicability 797
Definitions of Terms 798
Objectives of At Section 301 799
Requirements: General 800
Partial Presentations 801
Requirements: Compilation of Prospective Financial Statements 801
Standards 801
Practitioner's Report 802
Requirements: Examination of Prospective Financial Statements 803
Standards 803
Accountant's Report 803
Modifications of Practitioner's Opinion 804
Modification of Standard Examination Report 805
Requirements: Applying Agreed-Upon Procedures to Prospective Financial Statements (See Also At Section 201) 805
General 805
Requirements: Other 806
Practitioner-Submitted Document 806
Client-Prepared Document 807
Interpretations 808
Illustrations 808
Appendices 815
Appendix B: Training and Proficiency, Planning and Procedures Applicable to Compilations 816
Appendix C: Training and Proficiency, Planning, and Procedures Applicable to Examinations 819
AT 401: Reporting on Pro Forma Financial Information 825
Original Pronouncement 825
Technical Alert 825
Applicability 825
Definition of Term 825
Objectives of At Section 401 825
Use of Pro Forma Information 826
Requirements 826
Conditions for Reporting and the Accountant's Objectives 826
Engagement Objectives 827
Procedures 827
Form of Report on Pro Forma Financial Information 828
Interpretations 830
Techniques for Application 830
Presentation of Pro Forma Financial Information 830
Nonaudit and Nonreview Clients 830
Most Recent Year Historical Financial Statements 830
Compiled Historical Financial Statements 831
Qualified Report on Historical Financial Statements 831
Illustrations 831
AT 501: An Examination of an Entity's Internal Control over Financial Reporting That Is Integrated with an Audit of Its Financial Statements 839
Original Pronouncement 839
Technical Alert 839
Applicability 839
Definitions of Terms 840
Objectives of At Section 501 841
Requirements 843
Required Conditions for Engagement Acceptance 843
Planning the Engagement 844
Testing Controls 846
Forming an Opinion 848
Evaluating Control Deficiencies 849
Reporting Requirements 850
Other Topics 852
Interpretations 854
Reporting under Section 112 of the Federal Deposit Insurance Corporation Improvement Act (Issued September 2010) 854
Illustrations 854
AT 601: Compliance Attestation 863
Original Pronouncement 863
Technical Alert 863
Applicability 863
Definitions of Terms 864
Objectives of At Section 601 864
Requirements: General (Applicable to Both Agreed-Upon Procedures and Examination Engagements) 865
General 865
Criteria 865
Prohibited Engagements 865
Using the Work of a Specialist 865
Management's Representations 865
Other Information in a Client-Prepared Document 866
Requirements: Agreed-Upon Procedures Engagement 866
Conditions for Acceptance 866
Understanding with Specified Parties 867
Understanding the Specified Compliance Requirements 867
Scope Restrictions 867
Subsequent Events 867
Practitioner's Report 868
Requirements: Examination Engagement 868
Conditions for Engagement Performance 868
Extent of Evidence 869
Assessment of Inherent Risk 869
Assessment of Control Risk 869
Engagement Procedures 870
Subsequent Events 870
Practitioner's Report 870
Report Modifications 871
Interpretations 871
Techniques for Application 871
Planning the Engagement-General 871
Agreed-Upon Procedures Engagement 871
Planning the Examination Engagement 872
Examination Procedures 872
Materiality 873
Illustrations 873
AT 701: Management's Discussion and Analysis (MD& A)-A Summary
Original Pronouncement 877
Technical Alert 877
Applicability 877
Definition of Term 878
Objectives of At Section 701 878
Requirements: Examination 878
Acceptance 878
Performance 879
Reporting 879
Requirements: Review 879
Acceptance 879
Performance 880
Reporting 880
Interpretations 880
Illustrations 880
AT 801: Reporting on Controls at a Service Organization 885
Original Pronouncement 885
Technical Alert 885
Applicability 885
Definitions of Terms 885
Objectives of At Section 801 886
Requirements 887
Management and Those Charged with Governance 887
Acceptance and Continuance 887
Assessing the Suitability of the Criteria 887
Obtaining an Understanding of the Service Organization's System 888
Obtaining Evidence Regarding Management's Description of the Service Organization's System 888
Obtaining Evidence Regarding the Design of Controls 888
Obtaining Evidence Regarding the Operating Effectiveness of Controls 888
Using the Work of the Internal Audit Function 889
Written Representations 890
Other Information 890
Subsequent Events 890
Documentation 891
Preparing the Service Auditor's Report 891
Other Communication Responsibilities 895
Illustrations 895
AR-C 60: General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services 907
Original Pronouncement 907
Technical Alert 907
Objectives and Limitations of SSARS Engagements 907
Fundamental Requirements 908
Conduct of the Engagement in Accordance with SSARS 908
Quality Control in a SSARS Engagement 908
Acceptance and Continuance of Client Relationships and Engagements 909
Appendix-Definitions of Terms for AR-C Sections 60 Through 90 (Source: AR-C 60-90) 910
AR-C 70: Preparation of Financial Statements 915
Original Pronouncement 915
Objectives and Limitations of Preparation Engagements 915
Technical Alert 915
Definitions of Terms 916
Determining the Type of Engagement 916
Requirements 917
Quality Control in a Preparation Engagement 918
Acceptance and Continuance of Client Relationships and Preparation Engagements 918
Independence 918
Engagement Terms 918
Preparing Financial Statements 919
Documentation Requirements 919
Illustration (AR-C 70.A20) 919
AR-C 80: Compilation Engagements 923
Original Pronouncements 923
Objectives and Limitations of Preparation Engagements 923
Technical Alert 923
Definitions of Terms 924
Requirements 924
Independence 924
Acceptance and Continuance of Client Relationships 924
Establishing an Understanding 925
Compilation Performance Requirements 925
Documentation in a Compilation Engagement 926
Reporting on the Financial Statements 927
Illustrations 933
Checklist for a Compilation Engagement 933
AR-C 90: Review of Financial Statements 947
Original Pronouncement 947
Objectives and Limitations of Review Engagements 947
Technical Alert 948
SSARS No. 21 948
Interpretation-Section 9090 948
Definitions of Terms 949
Requirements 949
Materiality 950
Independence 951
Acceptance and Continuance of Client Relationships 951
Establishing an Understanding with the Client 951
Communication with Management and Those Charged with Governance 953
Review Performance Requirements 954
Written Representations 956
Documentation in a Review Engagement 957
Reporting on the Financial Statements 958
Illustrations: Review Engagement 963
AR-C 120: Compilation of Pro Forma Financial Information 985
Original Pronouncements 985
Applicability 985
Technical Alert 985
Objectives of AR-C Section 120 985
Requirements 985
General Guidance 985
Acceptance and Continuance of Client Relationships 986
Illustrations 988
Appendix A: Cross-References to SASs, SSAEs, and SSARSs 991
Appendix B: List of AICPA Audit and Accounting Guides and AICPA Statements of Position-Auditing and Attestation1 993
Appendix C: Other Auditing Publications1 995
Index 997
End User License Agreement 1039

Produkt-Details

• Erscheint lt. Verlag: 14.2.2017
• Reihe/Serie: Wiley Regulatory Reporting
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• Schlagworte: Accounting • Auditing • Rechnungswesen • Revision • Revision (Wirtsch.)
• ISBN-10: 1-119-37375-1 / 1119373751
• ISBN-13: 978-1-119-37375-9 / 9781119373759