Codification of statements on auditing standards, numbers 122 to 138 / American Institute of Certified Public Accountants.

The American Institute of CPAs (AICPA) is the world's largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the procession.

Contents: How This Publication is Organized 1 Applicability of AICPA Professional Standards 3 U.S Auditing Standards-AICPA (Clarified) [AU-C] AU-C Cross-References to SASs 9 AU-C Introduction 25 Foreword Preface-Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards Glossary of Terms AU-C 200-299 General Principles and Responsibilities 65 200-Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards 200A-Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards 210-Terms of Engagement 220-Quality Control for an Engagement Conducted in Accordance With Generally Accepted Auditing Standards 230-Audit Documentation 9230-Audit Documentation: Auditing Interpretations of Section 230 240-Consideration of Fraud in a Financial Statement Audit 250-Consideration of Laws and Regulations in an Audit of Financial Statements 260-The Auditor's Communication With Those Charged With Governance 265-Communicating Internal Control Related Matters Identified in an Audit 9265-Communicating Internal Control Related Matters Identified in an Audit: Auditing Interpretations of Section 265 AU-C 300-499 Risk Assessment and Response to Assessed Risks 291 300-Planning an Audit 315-Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement 320-Materiality in Planning and Performing an Audit 320A-Materiality in Planning and Performing an Audit 330-Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 402-Audit Considerations Relating to an Entity Using a Service Organization 450-Evaluation of Misstatements Identified During the Audit 450A-Evaluation of Misstatements Identified During the Audit AU-C 500-599 Audit Evidence 457 500-Audit Evidence 9500-Audit Evidence: Auditing Interpretations of Section 500 501-Audit Evidence-Specific Considerations for Selected Items 505-External Confirmations 510-Opening Balances-Initial Audit Engagements, Including Reaudit Engagements 520-Analytical Procedures 530-Audit Sampling 540-Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures 550-Related Parties 560-Subsequent Events and Subsequently Discovered Facts 570-The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern 580-Written Representations 585-Consideration of Omitted Procedures After the Report Release Date AU-C 600-699 Using the Work of Others 717 600-Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors) 600A-Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors) 9600-Special Considerations-Audits of Group Financial Statements (Including theWork of Component Auditors): Auditing Interpretations of Section 600 610-Using the Work of Internal Auditors 620-Using the Work of an Auditor's Specialist 9620-Using the Work of an Auditor's Specialist: Auditing Interpretations of Section 620 AU-C 700-799 Audit Conclusions and Reporting 901 700-Forming an Opinion and Reporting on Financial Statements 700A-Forming an Opinion and Reporting on Financial Statements 9700A-Forming an Opinion and Reporting on Financial Statements: Auditing Interpretations of Section 700 701-Communicating Key Audit Matters in the Independent Auditor's Report 703-Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA 705-Modifications to the Opinion in the Independent Auditor's Report 705A-Modifications to the Opinion in the Independent Auditor's Report 706-Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report 706A-Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report 708-Consistency of Financial Statements 720-The Auditor's Responsibilities Relating to Other Information Included in Annual Reports 720A-Other Information in Documents Containing Audited Financial Statements 725-Supplementary Information in Relation to the Financial Statements as a Whole 9725-Supplementary Information in Relation to the Financial Statements as a Whole: Auditing Interpretations of Section 725 730-Required Supplementary Information AU-C 800-899 Special Considerations1307 800-Special Considerations-Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks 805-Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement 9805-Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement: Auditing Interpretations of Section 805 806-Reporting on Compliance With Aspects of Contractual Agreements or Regulatory Requirements in Connection With Audited Financial Statements 810-Engagements to Report on Summary Financial Statements AU-C 900-999 Special Considerations in the United States 1411 905-Alert That Restricts the Use of the Auditor's Written Communication 910-Financial Statements Prepared in Accordance With a Financial Reporting Framework Generally Accepted in Another Country 915-Reports on Application of Requirements of an Applicable Financial Reporting Framework 920-Letters for Underwriters and Certain Other Requesting Parties 925-Filings With the U.S Securities and Exchange Commission Under the Securities Act of 1933 930-Interim Financial Information 935-Compliance Audits 940-An Audit of Internal Control Over Financial Reporting That is Integrated With an Audit of Financial Statements 945-Auditor Involvement With Exempt Offering Documents AU-C Appendixes 1677 AU-C Topical Index 1745

This 2020 edition delivers the current Statements on Auditing Standards (SASs) and related interpretations in a codified format, giving up-to-date information needed to conduct successful audits and provide high-quality services to clients. Issued directly by the AICPA, this authoritative guidance is essential to fully understand the requirements associated with an audit. This edition includes the following new standards: -SAS No. 136, Forming an Opinion and Reporting on Financial Statements of Employee -Benefit Plans Subject to ERISA -SAS No. 137, The Auditor's Responsibilities Relating to Other Information Included in -Annual Reports -SAS No. 138, Amendments to the Description of the Concept of Materiality.