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Audit Committee Communications; Statement On Auditing Standards, 090, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Audit Committee Communications; Statement On Auditing Standards, 090, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Statements on Auditing Standards
This amendment revises Statement on Auditing Standards (SAS) No. 61, Communication With Audit Committees (AICPA, Professional Standards, vol. 1, AU sec. 380.03), and adds a new paragraph to SAS No. 61 (AU sec. 380.11) to reflect recommendation number 8 in the 1999 report of the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees. This amendment requires an auditor of Securities and Exchange Commission (SEC) clients to discuss with audit committees the auditor's judgments about the quality, not just the acceptability, of the company's accounting principles and underlying estimates in its financial statements. The new language is shown …
Communication With Audit Committees; Statement On Auditing Standards, 061, American Institute Of Certified Public Accountants. Auditing Standards Board
Communication With Audit Committees; Statement On Auditing Standards, 061, American Institute Of Certified Public Accountants. Auditing Standards Board
Statements on Auditing Standards
1. This Statement establishes a requirement for the auditor to determine that certain matters related to the conduct of an audit are communicated to those who have responsibility for oversight of the financial reporting process. For purposes of this document, the recipient of the communications is referred to as the audit committee. The communications required by this Statement are applicable to (1) entities that either have an audit committee or that have otherwise formally designated oversight of the financial reporting process to a group equivalent to an audit committee (such as a finance committee or budget committee) and (2) all …