The clearest, easiest-to-use guide to understanding all the clarified standards, including the new attestation standards--fully updated!
This comprehensive guide to understanding Generally Accepted Auditing Standards (GAAS) is not just about auditing. It addresses the toughest part of an accountant's job--identifying, interpreting, and applying the many audit, attest, review, compilation, and preparation standards relevant to a particular engagement.
Wiley Practitioner's Guide to GAAS 2017 offers a clear and accessible distillation of the official language of GAAS, Statements on Standards for Attestation Engagements (SSAEs), and Statements on Standards for Accounting and Review Services (SSARSs)--as well as advice on exactly how to remain fully compliant with each.
Wiley Practitioner's Guide to GAAS 2017 is organized according to the logical arrangement of the clarified standards, presenting each section individually, and explaining how it is related to the engagement process. Guidance is offered on the entire process, in the form of practice notes, checklists, questionnaires, and real-world examples, illustrating how the fundamental requirements of each section are applied.
Other key features include:
* A brief identification of each auditing, SSAE, and SSARS section, with effective dates and tips on how to apply it
* Highlights of new requirements in the clarified attestation standards
* Concise listing and descriptions of each section's specific mandates, including definitions
* Easy-to-read capsule summary of interpretations, plus selected technical alerts
* Helpful techniques for remaining compliant with each standard
New in GAAS 2017:
In 2016, the AICPA's Auditing Standards Board completed a major stage of its clarity project and issued SSAE No. 18. The new guidance is effective for reports dated May 1, 2017. SSAE No. 18 replaces the attestation standards, introducing major new requirements that will change practice. In this transition year, guidance on the extant attestation standards is also included. Wiley Practitioner's Guide to GAAS 2017 is completely updated to reflect all the clarified standards and provide valuable implementation information.
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Höhe: 23.5 cm
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Dicke: 5.3 cm
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978-1-119-37377-3 (9781119373773)
Schweitzer Klassifikation
Joanne Flood, MBA, CPA, Rockville Center, NY has accounting experience within both a Big 4 international firm and a small firm. She has worked as a senior manager in the AICPA's Professional Development group. Joanne received her MBA in Accounting Summa Cum Laude from Adelphi University.
While in public accounting, she worked on major clients in retail, manufacturing, and finance and on small business clients in construction, manufacturing, and professional services. At the AICPA, she managed the development and wrote courses in the accounting and auditing product line. She also wrote and produced training materials in a wide variety of media, including print, video, and audio, and pioneered the AICPA's elearning product line.
Preface ix
About the Author xi
Organization and Key Changes xiii
AU-C 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Generally Accepted Auditing Standards 1
AU-C 210 Terms of Engagement 9
AU-C 220 Quality Control for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards 15
AU-C 230 Audit Documentation 21
AU-C 240 Consideration of Fraud in a Financial Statement Audit 31
AU-C 250 Consideration of Laws and Regulations in an Audit of Financial Statements 59
AU-C 260 The Auditor's Communication with Those Charged with Governance 65
AU-C 265 Communicating Internal Control Related Matters Identified in an Audit 71
AU-C 300 Planning an Audit 81
AU-C 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement 87
AU-C 320 Materiality in Planning and Performing an Audit 115
AU-C 330 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 119
AU-C 402 Audit Considerations Relating to an Entity Using a Service Organization 149
AU-C 450 Evaluation of Misstatements Identified during the Audit 159
AU-C 500 Audit Evidence 163
AU-C 501 Audit Evidence--Specific Considerations for Selected Items 167
AU-C 505 External Confirmations 201
AU-C 510 Opening Balances--Initial Audit Engagements, Including Reaudit Engagements 217
AU-C 520 Analytical Procedures 225
AU-C 530 Audit Sampling 239
AU-C 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures 263
AU-C 550 Related Parties 275
AU-C 560 Subsequent Events and Subsequently Discovered Facts 287
AU-C 570 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern 301
AU-C 580 Written Representations 317
AU-C 585 Consideration of Omitted Procedures after the Report Release Date 331
AU-C 600 Special Considerations--Audits of Group Financial Statements (Including the Work of Component Auditors) 337
AU-C 610 Using the Work of Internal Auditors 357
AU-C 620 Using the Work of an Auditor's Specialist 371
AU-C 700 Forming an Opinion and Reporting on Financial Statements 381
AU-C 705 Modifications to the Opinion in the Independent Auditor's Report 395
AU-C 706 Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report 413
AU-C 708 Consistency of Financial Statements 421
AU-C 720 Other Information in Documents Containing Audited Financial Statements 425
AU-C 725 Supplementary Information in Relation to Financial Statements as a Whole 429
AU-C 730 Required Supplementary Information 435
AU-C 800 Special Considerations--Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks 441
AU-C 805 Special Considerations--Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement 451
AU-C 806 Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements 463
AU-C 810 Engagements to Report on Summary Financial Statements 471
AU-C 905 Alert That Restricts the Use of the Auditor's Written Communication 481
AU-C 910 Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country 487
AU-C 915 Reports on Application of Requirements of an Applicable Financial Reporting Framework 493
AU-C 920 Letters for Underwriters and Certain Other Requesting Parties 499
AU-C 925 Filings with the US Securities and Exchange Commission under the Securities Act of 1933 537
AU-C 930 Interim Financial Information 543
AU-C 935 Compliance Audits 569
AU-C 940 An Audit of Internal Control over Financial Reporting That Is Integrated with an Audit of Financial Statements 581
AT-C Preface 607
AT-C 105 Concepts Common to All Attestation Engagements 621
AT-C 205 Examination Engagements 627
AT-C 210 Review Engagements 649
AT-C 215 Agreed-Upon Procedures Engagements 665
AT-C 305 Prospective Financial Information 677
AT-C 310 Reporting on Pro Forma Financial Information 691
AT-C 315 Compliance Attestation 705
AT-C 320 Reporting on an Examination of Controls at a Service Organization Relevant to User Entities' Internal Control over Financial Reporting 715
AT-C 395 (Designated for AT Section 701) Management's Discussion and Analysis (MD&A)--A Summary 731
AT 20 Defining Professional Requirements in Statements on Standards for Attest Engagements 739
AT 50 SSAE Hierarchy 741
AT 101 Attest Engagements 745
AT 201 Agreed-Upon Procedures Engagements 769
AT 301 Financial Forecasts and Projections 781
AT 401 Reporting on Pro Forma Financial Information 809
AT 501 An Examination of an Entity's Internal Control over Financial Reporting That Is Integrated with an Audit of Its Financial Statements 823
AT 601 Compliance Attestation 847
AT 701 Management's Discussion and Analysis (MD&A)--A Summary 861
AT 801 Reporting on Controls at a Service Organization 869
AR-C 60 General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services 891
AR-C 70 Preparation of Financial Statements 899
AR-C 80 Compilation Engagements 907
AR-C 90 Review of Financial Statements 931
AR-C 120 Compilation of Pro Forma Financial Information 969
Appendix A Cross-References to SASs, SSAEs, and SSARSs 975
Appendix B List of AICPA Audit and Accounting Guides and AICPA Statements of Position--Auditing and Attestation 977
Appendix C Other Auditing Publications 979
Index 981
