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Statements on Auditing Standards (United States)

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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 a non-public company[1] 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.

With the permission of the AICPA, the full text of Standards 1–101 has been posted on the website of the Digital Accounting Collection at the J.D. Williams Library of the University of Mississippi. Links to these full-text records appear in the List of Statements of Auditing Standards below.

Discover more about Statements on Auditing Standards (United States) related topics

Auditor's report

Auditor's report

An auditor's report is a formal opinion, or disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit, as an assurance service in order for the user to make decisions based on the results of the audit.

Auditing Standards Board

Auditing Standards Board

In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public accountants (CPAs) for non-public company audits. Created in October 1978, it is composed of 19 members representing various industries and sectors, including public accountants and private, educational, and governmental entities. It issues pronouncements in the form of statements, interpretations, and guidelines, which all CPAs must adhere to when performing audits and attestations.

American Institute of Certified Public Accountants

American Institute of Certified Public Accountants

The American Institute of Certified Public Accountants (AICPA) is the national professional organization of Certified Public Accountants (CPAs) in the United States, with more than 428,000 members in 130 countries. Founded in 1887 as the American Association of Public Accountants (AAPA), the organization sets ethical standards and U.S. auditing standards. It also develops and grades the Uniform CPA Examination. The AICPA maintains offices in New York City; Washington, DC; Durham, NC; and Ewing, NJ.

Digital Accounting Collection

Digital Accounting Collection

The Digital Accounting Collection (DAC) is part of the University of Mississippi Libraries. The collection contains both current and historical accounting materials, with over 2,400 items in digitized searchable full-text format, and over 33,000 bibliographic citations for other materials.

List of Statements of Auditing Standards

Pre-clarified Statements on Auditing Standards

No. Official title Issued on
1 Codification of Auditing Standards and Procedures full-text November 1972
2 Reports on Audited Financial Statements full-text October 1974
3 The Effects of EDP on the Auditor’s Study and Evaluation of Internal Control full-text December 1974
4 Quality Control Considerations for a Firm of Independent Auditors full-text December 1974
5 The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" in the Independent Auditor's Report full-text July 1975
6 Related Party Transactions full-text July 1975
7 Communications Between the Predecessor and Successor Auditors full-text October 1975
8 Other Information in Documents Containing Audited Financial Statements full-text December 1975
9 The Effect of an Internal Audit Function on the Scope of the Independent Auditor's Examination full-text December 1975
10 Limited Review of Interim Financial Information full-text December 1975
11 Using the Work of a Specialist full-text December 1975
12 Inquiry of a Client's Lawyer Concerning Litigation, Claims, and Assessments full-text January 1976
13 Reports on a Limited Review of Interim Financial Information full-text May 1976
14 Special Reports full-text December 1976
15 Reports on Comparative Financial Statements full-text December 1976
16 The Independent Auditor's Responsibility full-text January 1977
17 Illegal Acts by Clients full-text January 1977
18 Unaudited Replacement Cost-Information full-text May 1977
19 Client Representations full-text June 1977
20 Required Communication of Material Weaknesses in Internal Accounting Control full-text August 1977
21 Segment Information full-text December 1977
22 Planning and Supervision full-text March 1978
23 Analytical Review Procedures full-text October 1978
24 Review of Interim Financial Information full-text March 1979
25 The Relationship of Generally Accepted Auditing Standards to Quality Control Standards full-text November 1979
26 Association with Financial Statements full-text November 1979
27 Supplementary Information Required by the Financial Accounting Standards Board full-text December 1979
28 Supplementary Information on the Effects of Changing Prices full-text June 1980
29 Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents full-text July 1980
30 Reporting on Internal Accounting Control full-text July 1980
31 Evidential Matter full-text August 1980
32 Adequacy of Disclosure of Financial Statements full-text October 1980
33 Supplementary Oil and Gas Reserve Information full-text October 1980
34 The Auditor's Considerations When a Question Arises About and Entity's Continued Existence full-text March 1981
35 Special Reports-Applying Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement full-text April 1981
36 Review of Interim Financial Information full-text April 1981
37 Filings Under Federal Securities Statutes full-text April 1981
38 Letters for Underwriters full-text April 1981
39 Audit Sampling full-text June 1981
40 Supplementary Mineral Reserve Information full-text February 1982
41 Working Papers full-text April 1982
42 Reporting on Condensed Financial Statements and Selected Financial Data full-text September 1982
43 Omnibus Statement on Auditing Standards full-text August 1982
44 Special-Purpose Reports on Internal Accounting Control at Service Organizations full-text December 1982
45 Omnibus Statement on Auditing Standards-1983 full-text August 1983
46 Consideration of Omitted Procedures After the Report Date full-text September 1983
47 Audit Risk and Materiality in Conducting an Audit full-text December 1983
48 The Effects of Computer Processing on the Audit of Financial Statements full-text July 1984
49 Letters for Underwriters full-text September 1984
50 Reports on the Application of Accounting Principles full-text July 1986
51 Reporting on Financial Statements Prepared for Use in Other Countries full-text July 1986
52 Omnibus Statement on Auditing Standards-1987 full-text April 1988
53 The Auditor's Responsibility to Detect and Report Errors and Irregularities full-text April 1988
54 Illegal Acts by Clients full-text April 1988
55 Consideration of Internal Control in a Financial Statement Audit full-text April 1988
56 Analytical Procedures full-text April 1988
57 Auditing Accounting Estimates full-text April 1988
58 Reports on Audited Financial Statements full-text April 1988
59 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern full-text April 1988
60 Communication of Internal Control Related Matters Noted in an Audit full-text April 1988
61 Communication With Audit Committees full-text April 1988
62 Special Reports full-text April 1989
63 Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance full-text April 1989
64 Omnibus Statement on Auditing Standards-1990 full-text December 1990
65 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements full-text April 1991
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 full-text June 1991
67 The Confirmation Process full-text November 1991
68 Compliance Auditing Considerations in Audits of Governmental Financial Assistance full-text December 1991
69 The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" full-text January 1992
70 Service Organizations full-text April 1992
71 Interim Financial Information full-text May 1992
72 Letters for Underwriters and Certain Other Requesting Parties full-text February 1993
73 Using the Work of a Specialist full-text July 1994
74 Compliance Auditing Considerations in Audits of Governmental Financial Assistance full-text February 1995
75 Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement full-text September 1995
76 Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties full-text September 1995
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 full-text November 1995
78 Consideration of Internal Control in a Financial Statement Audit: An Amendment to Statement on Auditing Standards No. 55 full-text December 1995
79 Amendment to Statement on Auditing Standards No. 58: Reports on Audited Financial Statements full-text December 1995
80 Amendment to Statement on Auditing Standards No. 31: Evidential Matter full-text December 1996
81 Auditing Investments full-text December 1996
82 Consideration of Fraud in a Financial Statement Audit full-text February 1997
83 Establishing an Understanding With the Client full-text October 1997
84 Communications Between the Predecessor and Successor Auditors full-text October 1997
85 Management Representations full-text November 1997
86 Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties full-text March 1998
87 Restricting the Use of the Auditor's Report full-text September 1998
88 Service Organizations and Reporting on Consistency full-text December 1999
89 Audit Adjustments full-text December 1999
90 Audit Committee Communications full-text December 1999
91 Federal GAAP Hierarchy full-text April 2000
92 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities full-text September 2000
93 Omnibus Statement on Auditing Standards-2000 full-text October 2000
94 The Effect of Information Technology on the Auditor's Consideration of Internal Control in a Financial Statement Audit full-text May 2001
95 Generally Accepted Auditing Standards full-text December 2001
96 Audit Documentation full-text January 2002
97 Amendment to Statement on Auditing Standards No. 50: Reports on the Application of Accounting Principles full-text June 2002
98 Omnibus Statement on Auditing Standards-2002 full-text September 2002
99 Consideration of Fraud in a Financial Statement Audit full-text October 2002
100 Interim Financial Information full-text November 2002
101 Auditing Fair Value Measurements and Disclosures full-text January 2003
102 Defining Professional Requirements in Statements on Auditing Standards full-text December 2005
103 Audit Documentation full-text December 2005
104 Amendment to Statement on Auditing Standards No. 1: Codification of Auditing Standards and Procedures (Due Professional Care in the Performance of Work) full-text February 2006
105 Amendment to Statement on Auditing Standards No. 95: Generally Accepted Auditing Standards full-text February 2006
106 Audit Evidence full-text February 2006
107 Audit Risk and Materiality in Conducting an Audit full-text February 2006
108 Planning and Supervision full-text February 2006
109 Understanding the Entity and its Environment and Assessing the Risks of Material Misstatements full-text February 2006
110 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained full-text February 2006
111 Amendment to Statement on Auditing Standards No. 39: Audit Sampling full-text February 2006
112 Communicating Internal Control Related Matters Identified in an Audit full-text May 2006
113 Omnibus 2006 full-text November 2006
114 The Auditor’s Communication With Those Charged With Governance full-text December 2006
115 Communicating Internal Control Related Matters Identified in an Audit full-text October 2008
116 Interim Financial Information full-text February 2009
117 Compliance Audits full-text December 2009
118 Other Information in Documents Containing Audited Financial Statements February 2010
119 Supplementary Information in Relation to the Financial Statements as a Whole February 2010
120 Required Supplementary Information February 2010
121 Revised applicability of statement on auditing standards no. 100, Interim financial information February 2011

Clarified Statements on Auditing Standards

SAS No. 122, Clarification and Recodification, contains the Preface to Codification of Statements on Auditing Standards, Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards, and 39 clarified SASs. This statement recodifies and supersedes all outstanding SASs through No. 121 except

  • SAS No. 51, Reporting on Financial Statements Prepared for Use in Other Countries;
  • SAS No. 59, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern, as amended;
  • SAS No. 65, The Auditor’s Consideration of the Internal Audit Function in an Audit of Financial Statements;
  • SAS No. 87, Restricting the Use of an Auditor’s Report; and
  • the following clarified SASs that were issued to address practice issues timely and are already effective:
    • SAS No. 117, Compliance Audits (issued December 2009);
    • SAS No. 118, Other Information in Documents Containing Audited Financial Statements (issued February 2010);
    • SAS No. 119, Supplementary Information in Relation to the Financial Statements as a Whole (issued February 2010); and
    • SAS No. 120, Required Supplementary Information (issued February 2010).

SAS No. 122 also withdraws SAS No. 26, Association With Financial Statements, as amended.

The AICPA is the source of the most up-to-date information.

No. Official title Issued on Current status
122 Clarification and recodification October 2011 In effect
123 Omnibus statement on auditing standards October 2011 In effect
124 Financial statements prepared in accordance with a financial reporting framework generally accepted in another country October 2011 In effect
125 Alert that restricts the use of the auditor's written communication December 2011 In effect
126 Auditor's consideration of an entity's ability to continue as a going concern (redrafted) July 2012 In effect
127 Omnibus statement on auditing standards - 2913 January 2013 In effect
128 Using the work of internal auditors February 2014 In effect
129 Amendment to statement on auditing standards no. 122 section 920, Letters for underwriters and certain other requesting parties, as amended July 2014 In effect
130 Audit of internal control over financial reporting that is integrated with an audit of financial statements October 2015 In effect
131 Amendment to Statement on auditing standards no. 122, Section 700, Forming an opinion and reporting on financial statements January 2016 In effect
132 The Auditor's Consideration of an Entity’s Ability to Continue as a Going Concern February 2017 In effect
133 Auditor Involvement With Exempt Offering Documents July 2017 In effect
134 Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements May 2019 In effect
135 Omnibus Statement on Auditing Standards—2019 May 2019 In effect
136 Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA July2019 In effect
137 The Auditor’s Responsibilities Relating to Other Information Included in Annual Reports July 2019 In effect
138 Amendments to the Description of the Concept of Materaility December 2019 In effect
139 Amendments to AU-C Sections 800, 805, and 810 to Incorporate Auditor Reporting Changes From SAS No. 134 March 2020 In effect
140 Amendments to AU-C Sections 725, 730, 930, 935, and 940 to Incorporate Auditor Reporting Changes From SAS Nos. 134 and 137 April 2020 In effect
141 Amendment to the Effective Dates of SAS Nos. 134–140 May 2020 In effect
142 Audit Evidence July 2020 In effect
143 Auditing Accounting Estimates and Related Disclosures July 2020 In effect
144 Amendments to AU-C Sections 501, 540, and 620 Related to the Use of Specialists and the Use of Pricing Information Obtained From External Information Sources June 2021 In effect
145 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement October 2021 Effective for audits ending on or after December 15, 2023
146 Quality Management for an Engagement Conducted in Accordance With Generally Accepted Auditing Standards June 2022 Effective for engagements conducted in accordance with GAAS for periods beginning on or after December 15, 2025

Codification of Statements on Auditing Standards

The American Institute of Certified Public Accountants began codifying the Statements on Auditing standards semiannually in 1976. The Codification of Statements on Auditing Standards is generally issued in January, and the U.S. Auditing Standards is issued as part of the AICPA Professional Standards in June of each year. The current U.S. Auditing Standards are available at the AICPA's Web site. Below is a list of older codifications from the Professional Standards.

Date Official title Issued on
1976 AICPA Professional Standards: Auditing as of July 1, 1976 full-text July 1, 1976
1977 AICPA Professional Standards: Auditing as of July 1, 1977 full-text July 1, 1977
1978 AICPA Professional Standards: Auditing as of July 1, 1978 full-text July 1, 1978
1979 AICPA Professional Standards: Auditing as of July 1, 1979 full-text July 1, 1979
1980 AICPA Professional Standards: Auditing as of June 1, 1980 full-text June 1, 1980
1981 AICPA Professional Standards: Auditing as of June 1, 1981 full-text June 1, 1981
1982 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1982 full-text June 1, 1982
1983 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1983 full-text June 1, 1983
1984 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1984 full-text June 1, 1984
1985 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1985 full-text June 1, 1985
1986 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1986 full text June 1, 1986
1987 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1987 full-text June 1, 1987
1988 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1988 full-text June 1, 1988
1989 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1989 full-text June 1, 1989
1990 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1990 full-text June 1, 1990
1991 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1991 full-text June 1, 1991
1992 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1992 full-text June 1, 1992
1993 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1993 full-text June 1, 1993
1994 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1994 full-text June 1, 1994
1995 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1995 full-text June 1, 1995
1996 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1996 full-text June 1, 1996
1997 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1997 full-text June 1, 1997
1998 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1998 full-text June 1, 1998
1999 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1999 full-text June 1, 1999
2000 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2000 full-text June 1, 2000
2001 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2001 full-text June 1, 2001
2002 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2002 full-text June 1, 2002
2003 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2003 full-text June 1, 2003
2004 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2004 full-text June 1, 2004
2005 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2005 full-text June 1, 2005
2006 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2006 full-text June 1, 2006
2007 AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2007 full-text June 1, 2007

Source: "Statements on Auditing Standards (United States)", Wikipedia, Wikimedia Foundation, (2023, January 25th), https://en.wikipedia.org/wiki/Statements_on_Auditing_Standards_(United_States).

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See also
Notes
  1. ^ AICPA Operating Policies, pg. 1
References

Primary sources

Secondary sources

  • Mark S. Beasley, Joseph V. Carcello (2006), GAAS Guide 2007, CCH (publisher), ISBN 9780471798309
  • Don M. Pallais, Cheryl Hartfield, Mary Lou Wurdack (2006); PPC's Guide to GAAS 2007, Practitioners Publishing Company, ISBN 978-0-7646-4188-6
  • Michael J. Ramos (2006), Wiley Practitioner's Guide to GAAS 2007: Covering all SASs, SSAEs, SSARSs, and Interpretations, Wiley Publishing, ISBN 9780471798309

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