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In the United States, Statements on Auditing Standards provide guidance to
external auditors An external auditor performs an audit, in accordance with specific laws or rules, of the financial statements of a company, government entity, other legal entity, or organization, and is independent of the entity being audited. Users of these enti ...
on
generally accepted auditing standards Generally Accepted Auditing Standards, or GAAS are sets of standards against which the quality of audits are performed and may be judged. Several organizations have developed such sets of principles, which vary by territory. In the United States, ...
(abbreviated as GAAS) in regards to
auditing An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing ...
a non-public companyAICPA Operating Policies, pg. 1 and issuing a
report A report is a document that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are almost always in the form of written documents. Usage In ...
. They are promulgated by the
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 g ...
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 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 bi ...
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.


List of Statements of Auditing Standards


Pre-clarified Statements on Auditing Standards


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


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 curren
U.S. Auditing Standards
are available at the AICPA's Web site. Below is a list of older codifications from the ''Professional Standards.''


See also

*
Audit An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing ...
ing * AICPA * Statements of Financial Accounting Standards (USA) *
International Standards on Auditing International Standards on Auditing (ISA) are professional standards for the auditing of financial information. These standards are issued by the International Auditing and Assurance Standards Board (IAASB). According to Olung M (CAO - L), ISA g ...
*
Statements on auditing standards Statement on Auditing Standards, commonly abbreviated as SAS, provides guidance to external auditors on Generally Accepted Auditing Standards (GAAS) regarding auditing an entity and issuing an auditor's report. It is usually issued by the certified ...


Notes


References


Primary sources


Auditing Standards
American Institute of Certified Public Accountants
Auditing, Attestation, and Quality Control Standards Setting Activities: Operating Policies
(2004), American Institute of Certified Public Accountants


Secondary sources

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


External links


AICPA official site
* ttp://www.aicpa.org/Professional+Resources/Accounting+and+Auditing/Audit+and+Attest+Standards/Exposure+Dr+of+Proposed+Statements/ Exposure Drafts of Proposed Statements (AICPA official site){Dead link, date=May 2018 , bot=InternetArchiveBot , fix-attempted=no Auditing in the United States Auditing standards