Original Standard No. SAS No.

1 Responsibilities and Functions of the Independent Auditor This section describes the responsibilities and functions of the independent auditor. The section also includes distinction between the responsibilities of the auditor and management and the professional qualifications required by the independent auditor. Nature of the General Standards This section describes the nature of the general standards. Training and Proficiency of the Independent Auditor This section describes the formal education and experience required by the auditor. Independence This section describes how the auditor must maintain independence in all matters relating to the audit. Due Professional Care in the Performance of Work This section describes how the auditor must exercise due professional care in the performance of the audit and the preparation of the report. The section also requires that the auditor exercise professional skepticism and have reasonable assurance that the financial statements are free of material misstatement. Inventories This section provides guidelines for the independent auditor in observing inventories. It also discusses inventories held in public warehouses and the effect of inventories on the auditor’s report. Adherence to Generally Accepted Accounting Principles This section describes the first standard of reporting, which states that the auditor must state in the auditor’s report whether the financial statements are presented in accordance with generally accepted accounting principles. Consistency of Application of Generally Accepted Accounting Principles This section describes the second standard of reporting, which states that the auditor must identify in the auditor’s report those circumstances in which such principles have not been consistently observed in the current period in relation to the preceding period. The section describes accounting changes that affect Title & Synopsis

Section In Professional Standards AU sec. 110

Interpretations (If Applicable)

AU sec. 201

AU sec. 210

AU sec. 220

AU sec. 230

AU sec. 331

AU sec. 9331

AU sec. 410

AU sec. 9410

AU sec. 420

AU sec. 9420

337C AU sec. 26 consistency. 12 SAS No. Subsequent Discovery of Facts Existing at the Date of the Auditor's Report This section describes procedures applicable to an auditor who. Dating of the Independent Auditor's Report This section describes how an independent auditor should determine the dating of his or her report. 9561 AU sec. and Assessments This section provides guidance on the procedures an independent auditor should consider for identifying litigation. 337B AU sec. and first year audits. Claims. periods to which consistency standards relate. 9544 AU sec. Public Warehouses-Controls and Auditing Procedures for Goods Held This section discusses controls of a public warehouse. 901 AU sec. Association With Financial Statements This section defines association as it is used in the fourth standard of reporting and provides guidance to accountants engaged to audit financial statements in accordance with generally accepted auditing standards. 544 AU sec. 9543 AU sec. including the effect of subsequent events on the date of the report. Subsequent Events This section addresses events occurring subsequent to the balance-sheet date but prior to the issuance of the financial statements that require adjustment or disclosure in the statements. 161 AU sec. Part of Audit Performed by Other Independent Auditors This section provides guidance applicable to professional judgments an independent auditor makes regarding the work and reports of other independent auditors on financial statements. 530 AU sec. subsequent to the date of a report on audited financial statements. 337 AU sec. and assessments and for satisfying himself or herself as to the financial accounting and reporting for such matters when he or she is performing an audit in accordance with generally accepted auditing standards. 9560 AU sec. 504 AU sec. 25 SAS No. 543 AU sec. changes that do not affect consistency. and auditing procedures performed by the independent auditor of the owner of goods in the warehouse. becomes aware of facts existing at the date of the report that might have affected the report. 560 AU sec. The Relationship of Generally Accepted Auditing Standards to Quality Control Standards This section describes the relationship between generally accepted auditing standards and quality control standards. Lack of Conformity With Generally Accepted Accounting Principles This section concerns financial statements of regulated companies that do not conform with generally accepted accounting principles. AU sec. 561 AU sec. 9337 AU sec. claims. Inquiry of a Client's Lawyer Concerning Litigation. 337A AU sec. the procedures of its independent auditor with respect to goods in the warehouse's custody.SAS No. 9504 .

47 AU sec. 42 SAS No. Filings Under Federal Securities Statutes This section explains filing under federal securities statutes. 9534 . 9350 AU sec. and .24. 552 AU sec. Reporting on Condensed Financial Statements and Selected Financial Data This section provides guidance applicable to an auditor who is engaged to report on condensed financial statements or selected financial data prepared by a client. but there is no indication that those financial statements are not fairly presented in conformity with generally accepted accounting principles or with another comprehensive basis of accounting. the auditor must so state in the auditor’s report. 46 SAS No. 431 AU sec. 534 AU sec. performing. 711 AU sec. . 50 SAS No. 350 AU sec. which states that when the auditor determines that informative disclosures are not reasonably adequate. Consideration of Omitted Procedures After the Report Date This section provides guidance on the considerations and procedures to be applied by an auditor who. 331. Omnibus Statement on Auditing Standards AU sec. substantive tests of details. 350. concludes that one or more auditing procedures considered necessary at the time of the audit in the circumstances then existing were omitted from his audit of the financial statements. 39 SAS No. 901. subsequent to the date of his report on audited financial statements. 37 SAS No. 9625 AU sec.28 SAS No. 32 SAS No. 43 Adequacy of Disclosure in Financial Statements This section describes the third standard of reporting. 9711 AU sec. 45 SAS No.SAS No. 51 Related Parties This section provides guidance on procedures that should be considered by the auditor when he is performing an audit of financial statements in accordance with generally accepted auditing standards to identify related party relationships and transactions and to satisfy himself concerning the required financial statement accounting and disclosure. Reporting on Financial Statements Prepared for Use in Other Countries This section provides guidance applicable to reports on financial statements of a company in AU sec. tests of controls.01. The section also explains how to select a sampling approach. and dual-purpose samples.14 AU sec. 334 AU sec. Reports on the Application of Accounting Principles This section provides guidance that a reporting accountant should apply when preparing a written report on the application of accounting principles to specified transactions. 9334 AU sec. It describes uncertainty. 625 AU sec. Audit Sampling This section provides guidance for planning. and evaluating audit samples. 390 AU sec.

9330 . The Confirmation Process This section provides guidance about the confirmation process in audits performed in accordance with generally accepted auditing AU sec. 9508 AU sec. 57 SAS No. issued by an auditor in connection with audits of certain types of historical financial statements. 67 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements This section provides guidance on considering the work of internal auditors and on using internal auditors to provide direct assistance to the auditor in an audit performed in accordance with generally accepted auditing standards.SAS No. It details the auditor’s responsibilities. Auditing Accounting Estimates This section provides guidance to auditors on obtaining and evaluating sufficient appropriate audit evidence to support significant accounting estimates in an audit of financial statements in accordance with generally accepted auditing standards. 9508 AU sec. 64 the United States that are prepared in conformity with the accounting principles generally accepted in another country for use outside the United States. Analytical Procedures This section provides guidance on the use of analytical procedures and requires the use of analytical procedures in the planning and overall review stages of all audits. 9341 AU sec. Illegal Acts by Clients This section prescribes the nature and extent of the consideration an independent auditor should give to the possibility of illegal acts by a client in an audit of financial statements in accordance with generally accepted auditing standards.13 AU sec. along with examples and descriptions of circumstances when each is appropriate. 9317 AU sec. 342 AU sec. 508. considerations. Omnibus Statement on Auditing Standards—1990 AU sec. 322 AU sec. 543. 65 SAS No.74 AU sec. and documentation. 56 SAS No. 623 AU sec. 54 SAS No. 508 AU sec. 330 AU sec.12– . 9342 AU sec. 9341 AU sec. The section also provides guidance on the auditor's responsibilities when a possible illegal act is detected. Reports on Audited Financial Statements This section explains types of reports. procedures. The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern This section provides guidance to the auditor in conducting an audit of financial statements in accordance with generally accepted auditing standards with respect to evaluating whether there is substantial doubt about the entity's ability to continue as a going concern. 9543 SAS No. 9329 AU sec. 59 SAS No. 58 SAS No. 9623 AU sec. 329 AU sec. 341 AU sec. 62 SAS No. 317 AU sec. 341. communication with those charged with governance.16 AU sec. Special Reports This section applies to special reports.

58. Service Organizations This section provides guidance on the factors an independent auditor should consider when auditing the financial statements of an entity that uses a service organization to process certain transactions. For purposes of this section. Reports on Audited Financial Statements SAS No. This section also provides guidance for independent auditors who issue reports on the processing of transactions by a service organization for use by other auditors. 341. Using the Work of a Specialist This section provides guidance to the auditor who uses the work of a specialist in performing an audit in accordance with generally accepted auditing standards. 72. . 9634 Amendments to Statements on Auditing Standards No. 9411 SAS No. provides guidance on evaluating the results of confirmation procedures. provides guidance on performing alternative procedures when responses to confirmation requests are not received. 59.10. It defines the confirmation process.standards.01. 79 AU sec. 9623 AU sec. 73 SAS No.05 AU sec. 9508 Amendment to Statement on Auditing Standards No. 9324 AU sec. 9634 AU sec. 22. . Amendments to Statement on Auditing Standards No. 69 Conformity With Generally Accepted Accounting Principles AU sec. 77 AU sec. 324 AU sec. Communications Between Predecessor and Successor Auditors This section establishes guidance on AU sec.04 AU sec. 9341 Consideration of an Entity's Ability to Continue as a Going Concern. 634. 623. 72 SAS No. 634 AU sec.13 AU sec. 76 This section explains the meaning of the phrase present fairly in conformity with generally accepted accounting principles. Special Reports SAS No. 508 AU sec. and specifically addresses the confirmation of accounts receivable. The Meaning of Present Fairly in SAS No. describes certain factors that affect the reliability of confirmations. and . Planning and Supervision. 411 AU sec. 544. issued by an auditor in connection with audits of certain types of historical financial statements. along with examples and descriptions of circumstances when each is appropriate. and No. 84 This section explains types of reports. No. The Auditor's AU sec. Letters for Underwriters AU sec. 9336 and Certain Other Requesting Parties SAS No. discusses the relationship of confirmation procedures to the auditor's assessment of audit risk. 336 AU sec.09. a specialist is a person (or firm) possessing special skill or knowledge in a particular field other than accounting or auditing.02 and . Letters for Underwriters and Certain Other Requesting Parties This section provides guidance to accountants for performing and reporting on the results of engagements to issue letters for underwriters and certain other requesting parties. 62.64 AU sec. 70 SAS No. 315 .

15. 9625 . 93 AU sec. Audit Evidence. 89 Audit Adjustments AU sec. Management Representations This section establishes a requirement that the independent auditor obtain written representations from management as a part of an audit of financial statements performed in accordance with generally accepted auditing standards and provides guidance concerning the representations to be obtained. Service Organizations and Reporting on Consistency AU sec. 95 SAS No. field work. and investments in securities that are made in an entity’s financial statements. 9420 SAS No.16 AU sec. 9508 SAS No. 86 communications between predecessor and successor auditors when a change of auditors is in process or has taken place. the section defines interpretive and other auditing publications. 97 Generally Accepted Auditing Standards This section describes the 10 general. 92 Federal GAAP Hierarchy Auditing Derivative Instruments. It also describes how assertions are classified according to three broad categories that are discussed in AU section 326. Omnibus Statement on Auditing Standards—2000 SAS No. 333. hedging activities. 9411 AU sec. 532 AU sec.18 AU sec. 634 AU sec. 411. 508. 88 This section provides guidance to accountants for performing and reporting on the results of engagements to issue letters for underwriters and certain other requesting parties. 91 SAS No. Hedging Activities. 87 SAS No. 9332 SAS No. 50.03 and . 411.14– .06–. 9411 AU sec. Amendment to Statement on Auditing Standards No. 72.10 AU sec.11 AU sec. and reporting standards approved and adopted by the membership of the AICPA.08 AU sec. 420.12 AU sec. 315. 333 AU sec.06 and . 332 AU sec. It also provides communications guidance when possible misstatements are discovered in financial statements reported on by a predecessor auditor. 9324 AU sec. 625 AU sec. Reports on the AU sec. 324. and .07– .01 AU sec. Restricting the Use of an Auditor's Report This section defines general-use and restricteduse reports and outlines guidance applicable to restricting the use of reports issued pursuant to Statements on Auditing Standards. In addition.SAS No. and Investments in Securities This section provides guidance to auditors in planning and performing auditing procedures for assertions about derivative instruments. 9333 AU sec. Amendment to Statement on Auditing Standards No. 85 SAS No. 9333 AU sec. 9634 and Certain Other Requesting Parties SAS No. Letters for Underwriters AU sec. 150 AU sec.02 and .

Defining Professional Requirements in Statements on Auditing Standards This section describes professional requirements in the auditing standards. 9339 SAS No. 104 SAS No. this section addresses audit considerations relating to the measurement and disclosure of assets. 99 SAS No. and the use of explanatory material.05 AU sec. 9508 SAS No. 105 Amendment to Statement on Auditing Standards No. Audit Documentation AU sec.02– . 102 SAS No. Codification of Auditing Standards and Procedures(“Due Professional Care in the Performance of Work”) Amendment to Statement on Auditing Standards No. 161. 150.02 Auditing Standards .03 AU sec. including unconditional and presumptively mandatory requirements.10 AU sec. 316 AU sec. 530 AU sec. and specific components of equity presented or disclosed at fair value in financial statements. 101 SAS No.03– . 508. 722 AU sec. 561.03 AU sec. liabilities. 230. 560. 9324 AU sec. 339 AU sec. 1. Omnibus Statement on Auditing Standards—2002 AU sec. 324. 100 SAS No. 120 AU sec.01– .65 AU sec. 98 This section provides guidance that a reporting accountant should apply when preparing a written report on the application of accounting principles to specified transactions.05 AU sec.Application of Accounting Principles SAS No. Generally Accepted AU sec.57– . 9561 AU sec. Interim Financial Information Auditing Fair Value Measurements and Disclosures This section establishes standards and provides guidance on auditing fair value measurements and disclosures contained in financial statements. In particular. 150. 95. 328 AU sec.01 AU sec. 103 Consideration of Fraud in a Financial Statement Audit This section establishes standards and provides guidance to auditors in fulfilling the responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement (AU section 110) as it relates to fraud in an audit of financial statements conducted in accordance with generally accepted auditing standards. 530. 9328 AU sec.61 AU sec.

and provides guidance to the independent auditor conducting an audit in accordance with generally accepted auditing standards on the considerations and activities applicable to planning and supervision. and to design the nature. AU sec. 9350 . and on evaluating the sufficiency and appropriateness of the audit evidence obtained. 318 AU sec. relating to the auditor obtaining a sufficient understanding of the entity and its environment. For purposes of this section. timing. Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained This section establishes standards and provides guidance on determining overall responses and designing and performing further audit procedures to respond to the assessed risks of material misstatement at the financial statement and relevant assertion levels in a financial statement audit. 110 SAS No. including its internal control. and dual-purpose samples. It describes uncertainty. a specialist is a person (or firm) possessing special skill or knowledge in a particular field other than accounting or auditing. substantive tests of details. this section provides guidance about implementing the third standard of field work.SAS No. which states that the auditor must obtain sufficient appropriate audit evidence by performing audit procedures to afford a reasonable basis for an opinion regarding the financial statements under audit. 312 AU sec. Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement This section describes the second standard of field work. 326 AU sec. 107 SAS No. 9311 AU sec. to assess the risk of material misstatement of the financial statements whether due to error or fraud. 314 AU sec. 108 SAS No. In particular. Audit Risk and Materiality in Conducting an Audit This section establishes guidance on the auditor's consideration of audit risk and materiality when performing an audit of financial statements in accordance with generally accepted auditing standards. 9326 AU sec. This section also discusses risk assessment procedures and sources of information about the entity and its environment. relating to the planning of the audit and the supervision of any assistants. performing. The section also explains how to select a sampling approach. and evaluating audit samples. 39. Audit Sampling This section provides guidance for planning. 111 Audit Evidence This section provides guidance to the auditor who uses the work of a specialist in performing an audit in accordance with generally accepted auditing standards. tests of controls. 350 AU sec. Amendment to Statement on Auditing Standards No. 311 AU sec. and extent of further audit procedures. 106 SAS No. Planning and Supervision This section describes the first standard of field work. 9312 AU sec. 109 SAS No.

SAS No. 114 SAS No. management. The section defines the terms deficiency in internal control. 550 AU sec. 117 The Auditor’s Communication With Those Charged With Governance This section establishes standards and provides guidance on the auditor’s communication with those charged with governance in relation to an audit of financial statements. the communication process. 116 SAS No. 9560 SAS No. and documentation.04 AU sec. 113 Omnibus—2006 AU sec. 722 AU sec. and extent of the procedures to be performed by an independent accountant when conducting a review of interim financial information. to perform a compliance audit in accordance with generally accepted auditing standards.12 AU sec. 342.13 AU sec. and requires the auditor to communicate. 801 SAS No. 328. 560. It is applicable whenever an auditor expresses or disclaims an opinion on financial statements. those who are charged with governance. to management and those charged with governance. 150. significant deficiencies and material weaknesses identified in an audit. matters to be communicated. in writing.02 AU sec. 325 AU sec.09 AU sec.35 and . 9342 AU sec. Communicating Internal Control Related Matters Identified in an Audit This section establishes standards and provides guidance on communicating matters related to an entity’s internal control over financial reporting identified in an audit of financial statements. Other Information in Documents Containing Audited Financial Statements This section addresses the auditor’s responsibility in relation to other information in documents AU sec. Compliance Audits This section is applicable when an auditor is engaged. Interim Financial Information This section establishes standards and provides guidance on the nature. 380 AU sec. the standards for financial audits under Government Auditing Standards.02 and . 115 SAS No.46 AU sec. and a governmental audit requirement that requires an auditor to express an opinion on compliance. 551 AU sec. 316. provides guidance on evaluating the severity of deficiencies in internal control identified in an audit of financial statements. 333. 9325 AU sec.significant deficiency. 9341 AU sec. or required by law or regulation.10 and .41 AU sec. 118 AU sec. 341. timing. 9551 . and material weakness. legal considerations. It describes the role of communication.

119 Supplementary Information in Relation to the Financial Statements as a Whole This section addresses the auditor’s responsibility when engaged to report on whether supplementary information is fairly stated. SAS No. and the appointment of another accountant to audit the current year financial statements is not effective prior to the beginning of the period covered by the review. 9551 SAS No. in relation to the financial statements as a whole. Interim AU sec.containing audited financial statements and the auditor’s report thereon. 551 AU sec. 100. 120 AU sec. 558 SAS No. Required Supplementary Information This section addresses the auditor’s responsibility with respect to information that a designated accounting standard setter requires to accompany an entity’s basic financial statements (required supplementary information). 722 Financial Information This section amends paragraph .05 of AU section 722 such that AU section 722 would be applicable when the accountant audited the entity’s latest annual financial statements. Revised Applicability of Statement on Auditing Standards No. in all material respects. . 121 AU sec.

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