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Statements on Auditing Standards
Auditing -- Standards -- United States; Audited financial statements -- Standards -- United States; Financial statements -- Auditing -- Standards; Auditors' reports -- Standards -- United States
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Reports On Audited Financial Statements; Statement On Auditing Standards, 058, American Institute Of Certified Public Accountants. Auditing Standards Board
Reports On Audited Financial Statements; Statement On Auditing Standards, 058, American Institute Of Certified Public Accountants. Auditing Standards Board
Statements on Auditing Standards
This Statement on Auditing Standards (SAS) changes generally accepted auditing standards by 1. Prescribing a new form for the auditor's standard report. Most significant among the changes from the previous standard report is (a) the addition of an introductory paragraph that differentiates management's responsibilities for the financial statements from the auditor's role in expressing an opinion on them based upon his audit, (b) an explicit acknowledgment that an audit provides reasonable assurance within the context of materiality, and (c) the addition of a brief explanation of what an audit entails. 2. Revising the second standard of reporting to require a …