AICPA issues a series of SAS on audit risk.

Publication: CPA Government & Nonprofit Report

Bookmark this article Print this article Link to this article Email this article Digg It! Add to del.icio.us RSS

COPYRIGHT 2006 Aspen Publishers, Inc.

The AICPA issued a series on Statements on Auditing Standards (SAS) that focus on risk assessment standards that will have a substantial effect on all audits of periods beginning on or after Dec. 15, 2006, which effectively translates into fiscal year-ends of Dec. 31, 2007 and later. They are available for purchase at www.cpa2biz.com/risk.

These SAS were originally released for comment in 2002. For the next several months they were criticized, reconsidered, revamped, and re-exposed in 2005. After that second exposure, they were again discussed, criticized, revised, and finally issued in March...

Read the full article for free courtesy of your local library.