Statements on Auditing Standards (SASs) are issued by the Auditing Standards Board (ASB).
| Original Standard No. | Title & Synopsis | Section In Professional Standards | Interpretations (If Applicable) |
| SAS No. 1 | Responsibilities and Functions of the Independent AuditorThis 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. | AU sec. 110 | |
| Nature of the General StandardsThis section describes the nature of the general standards. | AU sec. 201 | ||
| Training and Proficiency of the Independent AuditorThis section describes the formal education and experience required by the auditor. | AU sec. 210 | ||
| IndependenceThis section describes how the auditor must maintain independence in all matters relating to the audit. | AU sec. 220 | ||
| 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. | AU sec. 230 | ||
| InventoriesThis 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. | AU sec. 331 | AU sec. 9331 | |
| 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. | AU sec. 410 | AU sec. 9410 | |
| 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 consistency, changes that do not affect consistency, periods to which consistency standards relate, and first year audits. | AU sec. 420 | AU sec. 9420 | |
| Dating of the Independent Auditor’s Report This section describes how an independent auditor should determine the dating of his or her report, including the effect of subsequent events on the date of the report. | AU sec. 530 | ||
| 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. | AU sec. 543 | AU sec. 9543 | |
| Lack of Conformity With Generally Accepted Accounting PrinciplesThis section concerns financial statements of regulated companies that do not conform with generally accepted accounting principles. | AU sec. 544 | AU sec. 9544 | |
| Subsequent EventsThis 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. | AU sec. 560 | AU sec. 9560 | |
| Subsequent Discovery of Facts Existing at the Date of the Auditor’s ReportThis section describes procedures applicable to an auditor who, subsequent to the date of a report on audited financial statements, becomes aware of facts existing at the date of the report that might have affected the report. | AU sec. 561 | AU sec. 9561 | |
| Public Warehouses-Controls and Auditing Procedures for Goods HeldThis section discusses controls of a public warehouse, the procedures of its independent auditor with respect to goods in the warehouse’s custody, and auditing procedures performed by the independent auditor of the owner of goods in the warehouse. | AU sec. 901 | ||
| SAS No. 8 | Other Information in Documents Containing Audited Financial StatementsThis section explains an auditor’s responsibility regarding other information contained in certain types of documents that may be issued in addition to audited financial statements. | AU sec. 550A | AU sec. 9550A |
| SAS No. 12 | Inquiry of a Client’s Lawyer Concerning Litigation, Claims, and AssessmentsThis section provides guidance on the procedures an independent auditor should consider for identifying litigation, claims, 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. | AU sec. 337 | AU sec. 9337 |
| SAS No. 25 | The Relationship of Generally Accepted Auditing Standards to Quality Control StandardsThis section describes the relationship between generally accepted auditing standards and quality control standards. | AU sec. 161 | |
| SAS No. 26 | Association With Financial StatementsThis 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. | AU sec. 504 | AU sec. 9504 |
| SAS No. 29 | Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted DocumentsThis section provides guidance applicable to an auditor who submits a document that contains information in addition to the client’s basic financial statements and the auditor’s report. | AU sec. 551A | |
| SAS No. 32 | Adequacy of Disclosure in Financial StatementsThis section describes the third standard of reporting, which states that when the auditor determines that informative disclosures are not reasonably adequate, the auditor must so state in the auditor’s report. | AU sec. 431 | |
| SAS No. 37 | Filings Under Federal Securities Statutes This section explains filing under federal securities statutes. | AU sec. 711 | AU sec. 9711 |
| SAS No. 39 | Audit Sampling This section provides guidance for planning, performing, and evaluating audit samples. It describes uncertainty, substantive tests of details, tests of controls, and dual-purpose samples. The section also explains how to select a sampling approach. | AU sec. 350 | AU sec. 9350 |
| SAS No. 42 | Reporting on Condensed Financial Statements and Selected Financial DataThis section provides guidance applicable to an auditor who is engaged to report on condensed financial statements or selected financial data prepared by a client. | AU sec. 552 | |
| SAS No. 43 | Omnibus Statement on Auditing Standards | AU sec. 331.14 | |
| SAS No. 45 | Related PartiesThis 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. | AU sec. 334 | AU sec. 9334 |
| SAS No. 46 | Consideration of Omitted Procedures After the Report DateThis section provides guidance on the considerations and procedures to be applied by an auditor who, subsequent to the date of his report on audited financial statements, 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, 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. | AU sec. 390 | |
| SAS No. 50 | Reports on the Application of Accounting PrinciplesThis section provides guidance that a reporting accountant should apply when preparing a written report on the application of accounting principles to specified transactions. | AU sec. 625 | AU sec. 9625 |
| SAS No. 51 | Reporting on Financial Statements Prepared for Use in Other CountriesThis section provides guidance applicable to reports on financial statements of a company in the United States that are prepared in conformity with the accounting principles generally accepted in another country for use outside the United States. | AU sec. 534 | AU sec. 9534 |
| SAS No. 52 | Omnibus Statement on Auditing Standards—1987 | AU sec. 551A.15 | |
| Required Supplementary Information This section provides guidance applicable to an auditor who is required to report on supplementary information required by the Financial Accounting Standards Board, the Governmental Accounting Standards Board, or the Federal Accounting Standards Advisory Board. | AU sec. 558A | AU sec. 9558A | |
| SAS No. 54 | Illegal Acts by ClientsThis 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. The section also provides guidance on the auditor’s responsibilities when a possible illegal act is detected. | AU sec. 317 | AU sec. 9317 |
| SAS No. 56 | Analytical ProceduresThis 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. | AU sec. 329 | AU sec. 9329 |
| SAS No. 57 | Auditing Accounting EstimatesThis 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. | AU sec. 342 | AU sec. 9342 |
| SAS No. 58 | Reports on Audited Financial StatementsThis section explains types of reports, along with examples and descriptions of circumstances when each is appropriate, issued by an auditor in connection with audits of certain types of historical financial statements. | AU sec. 508 | AU sec. 9508 |
| SAS No. 59 | 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. It details the auditor’s responsibilities, procedures, considerations, communication with those charged with governance, and documentation. | AU sec. 341 | AU sec. 9341 |
| SAS No. 62 | Special ReportsThis section applies to special reports. | AU sec. 623 | AU sec. 9623 |
| SAS No. 64 | Omnibus Statement on Auditing Standards—1990 | AU sec. 341.12–.13 | AU sec. 9341 |
| SAS No. 65 | The Auditor’s Consideration of the Internal Audit Function in an Audit of Financial StatementsThis 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. | AU sec. 322 | |
| SAS No. 67 | The Confirmation ProcessThis section provides guidance about the confirmation process in audits performed in accordance with generally accepted auditing standards.
It defines the confirmation process; discusses the relationship of confirmation procedures to the auditor’s assessment of audit risk; describes certain factors that affect the reliability of confirmations; provides guidance on performing alternative procedures when responses to confirmation requests are not received; provides guidance on evaluating the results of confirmation procedures; and specifically addresses the confirmation of accounts receivable.
| AU sec. 330 | AU sec. 9330 |
| SAS No. 69 | The Meaning of Present Fairly in Conformity With Generally Accepted Accounting PrinciplesThis section explains the meaning of the phrase present fairly in conformity with generally accepted accounting principles. | AU sec. 411 | AU sec. 9411 |
| SAS No. 70 | 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. 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. | AU sec. 324 | AU sec. 9324 |
| SAS No. 72 | Letters for Underwriters and Certain Other Requesting PartiesThis section provides guidance to accountants for performing and reporting on the results of engagements to issue letters for underwriters and certain other requesting parties. | AU sec. 634 | AU sec. 9634 |
| SAS No. 73 | Using the Work of a SpecialistThis section provides guidance to the auditor who uses the work of a specialist in performing an audit in accordance with generally accepted auditing standards. For purposes of this section, a specialist is a person (or firm) possessing special skill or knowledge in a particular field other than accounting or auditing. | AU sec. 336 | AU sec. 9336 |
| SAS No. 75 | Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial StatementThis section has been withdrawn. | AU sec. 622 | AU sec. 9622 |
| SAS No. 76 | Amendments to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties | AU sec. 634.01, .09, .10, and .64 | AU sec. 9634 |
| SAS No. 77 | Amendments to Statements on Auditing Standards No. 22, Planning and Supervision, No. 59, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern, and No. 62, Special Reports | AU sec. 341.13 | AU sec. 9341 |
| SAS No. 79 | Amendment to Statement on Auditing Standards No. 58, Reports on Audited Financial Statements This section explains types of reports, along with examples and descriptions of circumstances when each is appropriate, issued by an auditor in connection with audits of certain types of historical financial statements. | AU sec. 508 | AU sec. 9508 |
| SAS No. 84 | Communications Between Predecessor and Successor Auditors This section establishes guidance on communications between predecessor and successor auditors when a change of auditors is in process or has taken place. It also provides communications guidance when possible misstatements are discovered in financial statements reported on by a predecessor auditor. | AU sec. 315 | |
| SAS No. 85 | Management RepresentationsThis 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. | AU sec. 333 | AU sec. 9333 |
| SAS No. 86 | Amendment to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting PartiesThis section provides guidance to accountants for performing and reporting on the results of engagements to issue letters for underwriters and certain other requesting parties. | AU sec. 634 | AU sec. 9634 |
| SAS No. 87 | Restricting the Use of an Auditor’s ReportThis section defines general-use and restricted-use reports and outlines guidance applicable to restricting the use of reports issued pursuant to Statements on Auditing Standards. | AU sec. 532 | |
| SAS No. 88 | Service Organizations and Reporting on Consistency | AU sec. 324.03 and .06–.10 | AU sec. 9324 |
| SAS No. 89 | Audit Adjustments | AU sec. 333.06 and .16 | AU sec. 9333 |
| SAS No. 91 | Federal GAAP Hierarchy | AU sec. 411.14–.15, and .18 | AU sec. 9411 |
| SAS No. 92 | Auditing Derivative Instruments, Hedging Activities, and Investments in Securities This section provides guidance to auditors in planning and performing auditing procedures for assertions about derivative instruments, hedging activities, and investments in securities that are made in an entity’s financial statements. It also describes how assertions are classified according to three broad categories that are discussed in AU section 326, Audit Evidence. | AU sec. 332 | AU sec. 9332 |
| SAS No. 93 | Omnibus Statement on Auditing Standards—2000 | AU sec. 315.02 and .12 | |
| SAS No. 95 | Generally Accepted Auditing Standards This section describes the 10 general, field work, and reporting standards approved and adopted by the membership of the AICPA. In addition, the section defines interpretive and other auditing publications. | AU sec. 150 | |
| SAS No. 97 | Amendment to Statement on Auditing Standards No. 50, Reports on the Application of Accounting PrinciplesThis section provides guidance that a reporting accountant should apply when preparing a written report on the application of accounting principles to specified transactions. | AU sec. 625 | AU sec. 9625 |
| SAS No. 98 | Omnibus Statement on Auditing Standards—2002 | AU sec. 150.05 | |
| SAS No. 99 | Consideration of Fraud in a Financial Statement AuditThis 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. | AU sec. 316 | |
| SAS No. 100 | Interim Financial Information | AU sec. 722 | |
| SAS No. 101 | 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, this section addresses audit considerations relating to the measurement and disclosure of assets, liabilities, and specific components of equity presented or disclosed at fair value in financial statements. | AU sec. 328 | AU sec. 9328 |
| SAS No. 102 | Defining Professional Requirements in Statements on Auditing Standards This section describes professional requirements in the auditing standards, including unconditional and presumptively mandatory requirements, and the use of explanatory material. | AU sec. 120 | |
| SAS No. 103 | Audit Documentation | AU sec. 339 | AU sec. 9339 |
| SAS No. 104 | Amendment to Statement on Auditing Standards No. 1, Codification of Auditing Standards and Procedures(“Due Professional Care in the Performance of Work”) | AU sec. 230.10 | |
| SAS No. 105 | Amendment to Statement on Auditing Standards No. 95, Generally Accepted Auditing Standards | AU sec. 150.02 | |
| SAS No. 106 | 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. For purposes of this section, a specialist is a person (or firm) possessing special skill or knowledge in a particular field other than accounting or auditing. | AU sec. 326 | AU sec. 9326 |
| SAS No. 107 | 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. | AU sec. 312 | AU sec. 9312 |
| SAS No. 108 | Planning and SupervisionThis section describes the first standard of field work, relating to the planning of the audit and the supervision of any assistants, 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. | AU sec. 311 | AU sec. 9311 |
| SAS No. 109 | Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement This section describes the second standard of field work, relating to the auditor obtaining a sufficient understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement of the financial statements whether due to error or fraud, and to design the nature, timing, and extent of further audit procedures. This section also discusses risk assessment procedures and sources of information about the entity and its environment. | AU sec. 314 | |
| SAS No. 110 | 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, and on evaluating the sufficiency and appropriateness of the audit evidence obtained. In particular, this section provides guidance about implementing the third standard of field work, 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. | AU sec. 318 | |
| SAS No. 111 | Amendment to Statement on Auditing Standards No. 39, Audit SamplingThis section provides guidance for planning, performing, and evaluating audit samples. It describes uncertainty, substantive tests of details, tests of controls, and dual-purpose samples. The section also explains how to select a sampling approach. | AU sec. 350 | AU sec. 9350 |
| SAS No. 113 | Omnibus—2006 | AU sec. 150.02 and .04 | |
| SAS No. 114 | The Auditor’s Communication With Those Charged With GovernanceThis section establishes standards and provides guidance on the auditor’s communication with those charged with governance in relation to an audit of financial statements. It describes the role of communication, legal considerations, those who are charged with governance, management, matters to be communicated, the communication process, and documentation. | AU sec. 380 | |
| SAS No. 115 | Communicating Internal Control Related Matters Identified in an AuditThis 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. It is applicable whenever an auditor expresses or disclaims an opinion on financial statements. The section defines the terms deficiency in internal control,significant deficiency, and material weakness; provides guidance on evaluating the severity of deficiencies in internal control identified in an audit of financial statements; and requires the auditor to communicate, in writing, to management and those charged with governance, significant deficiencies and material weaknesses identified in an audit. | AU sec. 325 | AU sec. 9325 |
| SAS No. 116 | Interim Financial InformationThis section establishes standards and provides guidance on the nature, timing, and extent of the procedures to be performed by an independent accountant when conducting a review of interim financial information. | AU sec. 722 | |
| SAS No. 117 | Compliance AuditsThis section is applicable when an auditor is engaged, or required by law or regulation, to perform a compliance audit in accordance with generally accepted auditing standards, the standards for financial audits under Government Auditing Standards, and a governmental audit requirement that requires an auditor to express an opinion on compliance. | AU sec. 801 | |
| SAS No. 118 | Other Information in Documents Containing Audited Financial StatementsThis section addresses the auditor’s responsibility in relation to other information in documents containing audited financial statements and the auditor’s report thereon. | AU sec. 550AU sec. 551 | |
| SAS No. 119 | Supplementary Information in Relation to the Financial Statements as a WholeThis section addresses the auditor’s responsibility when engaged to report on whether supplementary information is fairly stated, in all material respects, in relation to the financial statements as a whole. | AU sec. 551 | |
| SAS No. 120 | Required Supplementary InformationThis 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). |
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