Wiley Practitioner's Guide to GAAS 2014
Covering all SASs, SSAEs, SSARSs, and Interpretations
11th Edition
Published on 24. March 2014
Book
Paperback/Softback
1022 pages
978-1-118-73403-2 (ISBN)
Description
The clearest, easiest-to-use guide to understanding GAAS 2013 on the market--fully updated
This latest resource to understanding GAAS addresses the toughest part of the job--identifying, interpreting, and applying the many audit, attest, review, and compilation standards relevant to a particular engagement. The only GAAS reference organized according to practitioners' actual use of the Statements on Auditing Standards (SASs), inside you'll find explanations, practice notes, practical illustrations, checklists, and questionnaires to guide users through the auditing process.
* Detailed explanation of all new SAS standards
* Updates and interpretations of new Statements on Standards for Accounting and Review Services (SSARS) Compilation and Review statements
* A brief identification of each SAS, SSAE, and SSARS, with its effective date and tips on when to apply it
* A convenient and comprehensive glossary of official definitions, which are usually scattered throughout a standard
* Behind-the-scenes explanations of the reasons for each pronouncement and brief explanations of the basic ideas of the section
* Concise listing and descriptions of each standard's specific mandate
* Easy-to-read capsule summary of interpretations, plus selected AICPA practice alerts and advisories
* Helpful techniques for remaining compliant with each standard
* Examples and illustrations for testing internal controls
Wiley Practitioner's Guide to GAAS 2014 presents each statement individually, explaining how the standards are related and offering guidance on the entire engagement process in the form of practice notes, checklists, questionnaires, and real-world examples that illustrate how the fundamental requirements of each section are applied.
This latest resource to understanding GAAS addresses the toughest part of the job--identifying, interpreting, and applying the many audit, attest, review, and compilation standards relevant to a particular engagement. The only GAAS reference organized according to practitioners' actual use of the Statements on Auditing Standards (SASs), inside you'll find explanations, practice notes, practical illustrations, checklists, and questionnaires to guide users through the auditing process.
* Detailed explanation of all new SAS standards
* Updates and interpretations of new Statements on Standards for Accounting and Review Services (SSARS) Compilation and Review statements
* A brief identification of each SAS, SSAE, and SSARS, with its effective date and tips on when to apply it
* A convenient and comprehensive glossary of official definitions, which are usually scattered throughout a standard
* Behind-the-scenes explanations of the reasons for each pronouncement and brief explanations of the basic ideas of the section
* Concise listing and descriptions of each standard's specific mandate
* Easy-to-read capsule summary of interpretations, plus selected AICPA practice alerts and advisories
* Helpful techniques for remaining compliant with each standard
* Examples and illustrations for testing internal controls
Wiley Practitioner's Guide to GAAS 2014 presents each statement individually, explaining how the standards are related and offering guidance on the entire engagement process in the form of practice notes, checklists, questionnaires, and real-world examples that illustrate how the fundamental requirements of each section are applied.
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Joanne M. Flood
Wiley Practitioner's Guide to GAAS 2015
Covering all SASs, SSAEs, SSARSs, PCAOB Auditing Standards, and Interpretations
Book
03/2015
Wiley
€87.90
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Previous edition
Joanne M. Flood
Wiley Practitioner's Guide to GAAS 2013
Covering all SASs, SSAEs, SSARSs, and Interpretations
Book
01/2013
10th Edition
Wiley
€83.90
Article exhausted; check for reprint
Content
Preface ix
About the Author xiii
Organization and Key Changes xv
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 17
AU-C 230 Audit Documentation 25
AU-C 240 Consideration of Fraud in a Financial Statement Audit 37
AU-C 250 Consideration of Laws and Regulations in an Audit of Financial Statements 67
AU-C 260 The Auditor's Communication with Those Charged with Governance 73
AU-C 265 Communicating Internal Control Related Matters Identified in an Audit 81
AU-C 300 Planning an Audit 91
AU-C 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement 97
AU-C 320 Materiality in Planning and Performing an Audit 125
AU-C 330 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 131
AU-C 402 Audit Considerations Relating to an Entity Using a Service Organization 161
AU-C 450 Evaluation of Misstatements Identified During the Audit 171
AU-C 500 Audit Evidence 177
AU-C 501 Audit Evidence--Specific Considerations for Selected Items 181
AU-C 505 External Confirmations 219
AU-C 510 Opening Balances--Initial Audit Engagements, Including Reaudit Engagements 237
AU-C 520 Analytical Procedures 245
AU-C 530 Audit Sampling 259
AU-C 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures 283
AU-C 550 Related Parties 297
AU-C 560 Subsequent Events and Subsequently Discovered Facts 309
AU-C 570 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern 323
AU-C 580 Written Representations 339
AU-C 585 Consideration of Omitted Procedures After the Report Release Date 353
AU-C 600 Special Considerations--Audits of Group Financial Statements (Including the Work of Component Auditors) 359
AU-C 610 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements 379
AU-C 620 Using the Work of an Auditor's Specialist 393
AU-C 700 Forming an Opinion and Reporting on Financial Statements 405
AU-C 705 Modifications to the Opinion in the Independent Auditor's Report 419
AU-C 706 Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report 437
AU-C 708 Consistency of Financial Statements 447
AU-C 720 Other Information in Documents Containing Audited Financial Statements 451
AU-C 725 Supplementary Information in Relation to Financial Statements as a Whole 455
AU-C 730 Required Supplementary Information 463
AU-C 800 Special Considerations--Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks 469
AU-C 805 Special Considerations--Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement 481
AU-C 806 Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements 493
AU-C 810 Engagements to Report on Summary Financial Statements 501
AU-C 905 Alert That Restricts the Use of the Auditor's Written Communication 511
AU-C 910 Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country 519
AU-C 915 Reports on Application of Requirements of an Applicable Financial Reporting Framework 525
AU-C 920 Letters for Underwriters and Certain Other Requesting Parties 533
AU-C 925 Filings with the US Securities and Exchange Commission Under the Securities Act of 1933 571
AU-C 930 Interim Financial Information 577
AU-C 935 Compliance Audits 605
AT 20 Defining Professional Requirements in Statements on Standards for Attest Engagements 619
AT 50 SSAE Hierarchy 621
AT 101 Attest Engagements 625
AT 201 Agreed-Upon Procedures Engagements 651
AT 301 Financial Forecasts and Projections 663
AT 401 Reporting on Pro Forma Financial Information 691
AT 501 An Examination of an Entity's Internal Control Over Financial Reporting That Is Integrated with an Audit of Its Financial Statements 705
AT 601 Compliance Attestation 729
AT 701 Management's Discussion and Analysis (MD&A)--A Summary 745
AT 801 Reporting on Controls at a Service Organization 753
AR 60-90 Compilation and Review of Financial Statements 775
AR 110 Compilation of Specified Elements, Accounts, or Items of a Financial Statement 835
AR 120 Compilation of Pro Forma Financial Information 841
AR 200 Reporting on Comparative Financial Statements 847
AR 300 Compilation Reports on Financial Statements Included in Certain Prescribed Forms 861
AR 400 Communications Between Predecessor and Successor Accountants 865
AR 600 Reporting on Personal Financial Statements Included in Written Personal Financial Plans 869
PCAOB 1 References in Auditors' Reports to the Standards of the Public Company Accounting Oversight Board 873
PCAOB 3 Audit Documentation 877
PCAOB 4 Reporting on Whether a Previously Reported Material Weakness Continues to Exist 885
PCAOB 5 An Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements 899
PCAOB 6 Evaluating Consistency of Financial Statements 921
PCAOB 7 Engagement Quality Review 925
PCAOB 8 Audit Risk 929
PCAOB 9 Audit Planning 931
PCAOB 10 Supervision of the Audit Engagement 935
PCAOB 11 Consideration of Materiality in Planning and Performing an Audit 937
PCAOB 12 Identifying and Assessing Risks of Material Misstatement 941
PCAOB 13 The Auditor's Responses to the Risks of Material Misstatement 955
PCAOB 14 Evaluating Audit Results 963
PCAOB 15 Audit Evidence 969
PCAOB 16 Communication with Audit Committees 973
Appendix A: --AU Sections Mapped to the Clarified AU-C Sections 981
Appendix B: Cross-References to SASs, SSAEs, and SSARSs 989
Appendix C: List of AICPA Audit and Accounting Guides 991
Appendix D: Other Auditing Publications in the GAAS Hierarchy 993
Index 995
About the Author xiii
Organization and Key Changes xv
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 17
AU-C 230 Audit Documentation 25
AU-C 240 Consideration of Fraud in a Financial Statement Audit 37
AU-C 250 Consideration of Laws and Regulations in an Audit of Financial Statements 67
AU-C 260 The Auditor's Communication with Those Charged with Governance 73
AU-C 265 Communicating Internal Control Related Matters Identified in an Audit 81
AU-C 300 Planning an Audit 91
AU-C 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement 97
AU-C 320 Materiality in Planning and Performing an Audit 125
AU-C 330 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 131
AU-C 402 Audit Considerations Relating to an Entity Using a Service Organization 161
AU-C 450 Evaluation of Misstatements Identified During the Audit 171
AU-C 500 Audit Evidence 177
AU-C 501 Audit Evidence--Specific Considerations for Selected Items 181
AU-C 505 External Confirmations 219
AU-C 510 Opening Balances--Initial Audit Engagements, Including Reaudit Engagements 237
AU-C 520 Analytical Procedures 245
AU-C 530 Audit Sampling 259
AU-C 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures 283
AU-C 550 Related Parties 297
AU-C 560 Subsequent Events and Subsequently Discovered Facts 309
AU-C 570 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern 323
AU-C 580 Written Representations 339
AU-C 585 Consideration of Omitted Procedures After the Report Release Date 353
AU-C 600 Special Considerations--Audits of Group Financial Statements (Including the Work of Component Auditors) 359
AU-C 610 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements 379
AU-C 620 Using the Work of an Auditor's Specialist 393
AU-C 700 Forming an Opinion and Reporting on Financial Statements 405
AU-C 705 Modifications to the Opinion in the Independent Auditor's Report 419
AU-C 706 Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report 437
AU-C 708 Consistency of Financial Statements 447
AU-C 720 Other Information in Documents Containing Audited Financial Statements 451
AU-C 725 Supplementary Information in Relation to Financial Statements as a Whole 455
AU-C 730 Required Supplementary Information 463
AU-C 800 Special Considerations--Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks 469
AU-C 805 Special Considerations--Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement 481
AU-C 806 Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements 493
AU-C 810 Engagements to Report on Summary Financial Statements 501
AU-C 905 Alert That Restricts the Use of the Auditor's Written Communication 511
AU-C 910 Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country 519
AU-C 915 Reports on Application of Requirements of an Applicable Financial Reporting Framework 525
AU-C 920 Letters for Underwriters and Certain Other Requesting Parties 533
AU-C 925 Filings with the US Securities and Exchange Commission Under the Securities Act of 1933 571
AU-C 930 Interim Financial Information 577
AU-C 935 Compliance Audits 605
AT 20 Defining Professional Requirements in Statements on Standards for Attest Engagements 619
AT 50 SSAE Hierarchy 621
AT 101 Attest Engagements 625
AT 201 Agreed-Upon Procedures Engagements 651
AT 301 Financial Forecasts and Projections 663
AT 401 Reporting on Pro Forma Financial Information 691
AT 501 An Examination of an Entity's Internal Control Over Financial Reporting That Is Integrated with an Audit of Its Financial Statements 705
AT 601 Compliance Attestation 729
AT 701 Management's Discussion and Analysis (MD&A)--A Summary 745
AT 801 Reporting on Controls at a Service Organization 753
AR 60-90 Compilation and Review of Financial Statements 775
AR 110 Compilation of Specified Elements, Accounts, or Items of a Financial Statement 835
AR 120 Compilation of Pro Forma Financial Information 841
AR 200 Reporting on Comparative Financial Statements 847
AR 300 Compilation Reports on Financial Statements Included in Certain Prescribed Forms 861
AR 400 Communications Between Predecessor and Successor Accountants 865
AR 600 Reporting on Personal Financial Statements Included in Written Personal Financial Plans 869
PCAOB 1 References in Auditors' Reports to the Standards of the Public Company Accounting Oversight Board 873
PCAOB 3 Audit Documentation 877
PCAOB 4 Reporting on Whether a Previously Reported Material Weakness Continues to Exist 885
PCAOB 5 An Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements 899
PCAOB 6 Evaluating Consistency of Financial Statements 921
PCAOB 7 Engagement Quality Review 925
PCAOB 8 Audit Risk 929
PCAOB 9 Audit Planning 931
PCAOB 10 Supervision of the Audit Engagement 935
PCAOB 11 Consideration of Materiality in Planning and Performing an Audit 937
PCAOB 12 Identifying and Assessing Risks of Material Misstatement 941
PCAOB 13 The Auditor's Responses to the Risks of Material Misstatement 955
PCAOB 14 Evaluating Audit Results 963
PCAOB 15 Audit Evidence 969
PCAOB 16 Communication with Audit Committees 973
Appendix A: --AU Sections Mapped to the Clarified AU-C Sections 981
Appendix B: Cross-References to SASs, SSAEs, and SSARSs 989
Appendix C: List of AICPA Audit and Accounting Guides 991
Appendix D: Other Auditing Publications in the GAAS Hierarchy 993
Index 995