100 The Clarified Standards - Thomson Reuters

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Accounting, Audit & Corporate Finance Library

Editorial Materials

Audit and Attest

Clarified Auditing Standards

Chapter 1 Introduction

100 The Clarified Standards

100 The Clarified Standards

100.1 The term clarified standards refers to the recodified Statements on Auditing Standards. The Auditing

Standards Board embarked some years ago on a project to converge GAAS with the international auditing

standards and, as part of that effort, to restructure the standards in a new format. The clarified standards are the

culmination of that undertaking.

100.2 The focus of this Guide is the clarified standards that became effective in 2012, SAS Nos. 122-127.

Planning and adaptation are necessary to implement the standards' comprehensive contribution to the literature

and practice. Other standards, SAS Nos. 117-121, can be characterized as “clarified” because they conform to

the new format, but they were already in effect and, presumably, have already been implemented.

100.3 The following standards are covered in this Guide:

• SAS No. 122, Clarification and Recodification.

• SAS No. 123, Omnibus SAS—2011.

• SAS No. 124, Financial Statements Prepared in Accordance with a Financial Reporting Framework

Generally Accepted in Another Country.

• SAS No. 125, Alert That Restricts the Use of the Auditor's Written Communication.

• SAS No. 126, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern.


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100.4 SAS No. 122 comprises the bulk of the new literature. It supersedes most, but not all, of the existing

standards. There is precedent to the Auditing Standards Board's approach. In 1963, Statement on Auditing

Procedure No. 33 recodified and replaced the then-existing 32 standards. Nine years later, SAS No. 1 recodified

and replaced the auditing rules in effect, which at the time consisted of SAP Nos. 33-54. And almost 40 years

after that, SAS No. 122 replaces most of the existing standards. Of course, due to the ever-expanding universe of

standards, it is interesting to note that SAP No. 33 was about 90 pages long and SAS No. 1 ran about 200 pages.

SAS No. 122 alone is roughly 800 pages long.

100.5 SAS No. 123 contains technical corrections for consistency and clarity to five sections of SAS No. 122 and

to SAS Nos. 117 and 118.

100.6 SAS Nos. 124-126 revise sections of the existing standards that the Auditing Standards Board decided to

deal with outside of SAS No. 122. SAS No. 127 revises selected provisions of AU-C 600 (group audits) and AU-C

800 (reporting on special purpose frameworks).

100.7 After issuance of SAS No. 127, the standards applicable to audits of calendar year 2012 financial

statements are:

• SAS No. 65, The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements.

(A proposed revised standard was tentatively approved for exposure in late 2012 but had not been exposed

as this Guide went to press.)

• SAS No. 117, Compliance Audits.

• SAS No. 118, Other Information in Documents Containing Audited Financial Statements.

• SAS No. 119, Supplementary Information in Relation to the Financial Statements as a Whole.

• SAS No. 120, Required Supplementary Information.

• SAS No. 122, Clarification and Recodification.

• SAS No. 124, Financial Statements Prepared in Accordance with a Financial Reporting Framework

Generally Accepted in Another Country.



• SAS No. 125, Alert that Restricts the Use of the Auditor's Written Communication.

• SAS No. 126, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern.


Effective Date

100.8 SAS Nos. 122-127 are generally effective for audits of financial statements for periods ending on or after

December 15, 2012. Certain provisions that do not deal directly with audits, however, have different effective

dates, as follows:

• AU-C 220 on application of quality control is effective for GAAS engagements for periods ending on or after

December 15, 2012.

• AU-C 915 on reports on the application of a financial reporting framework is effective for engagements

ended on or after December 15, 2012.

• AU-C 920 on letters to underwriters and other requesting parties is effective for letters issued on or after

December 15, 2012.

• AU-C 930 on reviews of interim financial information is effective for interim financials for interim periods

beginning on or after December 15, 2012.

• SAS No. 125 on restricted use communications has two effective dates. For—

•• Written communications related to audits, it is effective at the same time as the other auditing

standards, which is for audits of financial statements for periods ending on or after December 15,

2012.

•• Other communications, it is effective for written communications issued on or after December 15,

2012.



Practitioner Question: Can the clarified standards be implemented before the effective date?

Answer: The standards do not prohibit early implementation. In fact, they are silent on early implementation.

Historically, silence has been interpreted as allowing immediate implementation. This interpretation seems to be

endorsed in SAS No. 122 (AU-C 200.A59), which says an auditor is permitted to apply a new standard before its

effective date unless specifically prohibited. A practitioner who implements the standard before the effective date

does not have to implement it for all engagements; some could be done under the clarified standards, while

others wait for the specified effective date. However, the authors discourage early implementation of the clarified

standards because of the potential for confusion about which standards are being applied. This is consistent with

nonauthoritative guidance issued by the AICPA (see Clarity Project: Update and Final Products, dated January

2012, at www.aicpa.org), which indicates that early implementation is not appropriate because, for legal and

peer review reasons, it is important that it be very clear which standards are in effect.

Auditors who want to apply the clarified standards before the effective date, however, are not early adopting

unless they implement the entire standard. For example, use of the new guidance for group audits without

applying the new rules for terms of the engagement would not be implementing SAS No. 122 because the whole

standard would not have been applied. To the extent that new procedures required under the clarified standards

can be merely added to the procedures already being applied, nothing prevents the auditor from adding steps

that are not required by standards without actually adopting the new standard.

Section Numbers in Professional Standards

100.9 Typically, when a new standard replaces an existing standard but is not yet effective, both standards are

codified into professional standards using the existing AU number distinguished by the use of the suffix A. The

clarified standards take a different approach because of the extent of the revision and the Auditing Standards

Board's decision to conform the numbering system to that used for international auditing standards.

100.10 The new standards carry section numbers with the prefix AU-C while the existing literature continues to

use the AU designation. This is a temporary solution. In 2014, the AU-C reference numbers will change to the

standard AU series and the existing AU series will disappear.

100.11 The reference numbers used in this Guide are those found in AICPA Professional Standards as this

Guide went to print. SAS Nos. 124 and 125 are codified into AU-C 910 and 905, respectively. In addition, the

amendments in SAS Nos. 123 and 127 changed some of the paragraph numbers in SAS No. 122; the references

here are to the revised paragraph numbers. SAS No. 126 (going concern) replaced the guidance in SAS No. 59,

which had been placed in AU-C 570.

Format of Clarified Standards

100.12 The new standards take on a different look than that historically found in SASs. The format, which has

been used in the auditing standards since SAS No. 117, is far more structured than in the past. Each AU-C

section contains the following elements, to the extent they are relevant in the circumstances, in this order:



Introduction The introduction explains the scope, applicability, and purpose of the standard. It

does not create any requirements, but explains what situations are covered.

Effective date Each section carries an effective date.

Objectives The objectives describe what the requirements of a section are expected to

achieve. A standard is developed with the expectation that applying the required

procedures will fulfill the objective. But, the auditor is expected to meet the

objectives of the standard, even if that means applying procedures in addition to

those stated in the standard.

Definitions Unique terms, if any, are defined in the definitions section. Not all AU-C sections

have a definitions section, but almost all do. Appendix 1B to this chapter is a

glossary of the terms defined in the clarified standards.

Requirements The requirements delineate the mandated procedures and reporting with which the

auditor is expected to comply. All the text in this section is phrased in terms of

either unconditional (must) or presumptively mandatory (should) requirements.

The requirements do not provide commentary or background. To the extent such

information is provided, it is in the application guidance and is cross-referenced to

the applicable paragraph.

Application and other

explanatory material

This section, which carries the paragraph designation A (for example, AU-C

200.A63), provides commentary, context, and suggestions on how to apply the

requirements. Each paragraph, or group of paragraphs, is cross-referenced to the

requirement to which it relates (AU-C 200.A63 is cross-referenced to AU-C

200.19, for example). The application guidance does not create any new

requirements; it merely discusses those established in the requirements section,

sometimes providing information that clarifies the intent of the requirement.

Application guidance does not use the words must or should. The discussions

typically use the word may, which does not create any obligation on the auditor's

part. Nonetheless, the auditor is expected to understand the application guidance

in applying the requirements.

The application guidance often provides specific considerations for smaller, less

complex entities or governmental entities. It explains how to apply the

requirements to these entities, but does not change the requirements.

Appendixes When included, an appendix to an AU-C section is part of the application

guidance. The purpose and intended use of an appendix is explained either in its

title or introduction or in the relevant AU-C section.

Exhibits Exhibits are nonauthoritative. They provide examples and background

commentary. Illustrative reports are ordinarily presented in exhibits. In addition,

each AU-C section has an exhibit that compares the content of the SAS with its

international counterpart.

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Checkpoint Contents

Accounting, Audit & Corporate Finance Library

Editorial Materials

Audit and Attest

Clarified Auditing Standards

Chapter 1 Introduction

101 Highlights of Changes

101 Highlights of Changes

Terminology

101.1 Although much of the terminology familiar to practitioners has been retained, the clarified standards

introduce a number of new terms. This was done to conform with international terminology and to more clearly

describe the subject matter. Appendix 1B provides a complete glossary of clarified terminology.

101.2 Some of the changed terms that are basic to understanding the clarified standards are:

Old Term New Term

GAAP Applicable financial reporting framework. The new standards are not

GAAP-centric; they are written to apply to both GAAP and other bases of

accounting. References to GAAP have been replaced with reference to

the financial reporting framework, and discussions of the effects of the

application of GAAP have been replaced with generic discussions.

OCBOA Special purpose framework. A special purpose framework is different

from a fair presentation framework, such as GAAP. The standard notes

that OCBOA is a term commonly used to refer to some special purpose

presentations, but does not use that term again.

Tolerable misstatement Performance materiality. Tolerable misstatement, as used in SAS No.

107 (that is, financial statement materiality applied at the account balance

or class of transactions level), is now called performance materiality. The

term tolerable misstatement has been retained but is used only in the

context of sampling applications.

Emphasis-of-a-matter paragraph Emphasis-of-matter paragraph or other-matter paragraph. The

concept of an additional paragraph that does not affect the opinion has

been retained, but the name of the paragraph depends on its content: if it

relates to something appearing in or disclosed in the financial statements,

it is an emphasis-of-matter paragraph; if it relates to the audit, it is an

other-matter paragraph.

Financial statements containing

components, such as consolidated



Old Term New Term

or combined financial statements,

principal auditor, other auditor

Group financial statements, group audit team, group engagement

partner, component auditor. (The divided-responsibility report, itself still

refers to the component auditor as an other auditor, however.)

Substantive Changes to the Standards

101.3 Virtually every section of the clarified standards creates new requirements. In addition, many of them

eliminate existing requirements or relegate them to nonmandatory application guidance. The AICPA has

characterized most of these changes as not substantive. However, they are still changes; they require that audit

plans be changed. And their significance depends on the individual practitioner. If one of the nonsubstantive

changes formed the basis for a firm's audit approach or its interpretation of the literature, that firm is likely to

disagree that it is not substantive. A peer reviewer who determines that the firm's audit plan did not include a new

requirement is unlikely to dismiss it as not substantive.

101.4 Each section in this Guide reconciles the new standard to the existing ones. The following discussion

highlights some of the most fundamental changes.

101.5 Principles-based Guidance

The new standards are described as principles based. They are intended to provide the basic rules that are to be

applied as appropriate in the circumstances, rather than rules specifically written for each situation that might

arise. The principles-based approach evinces itself in that:

• Each section explains the objectives to be achieved by the requirements. Implementation of the

requirements is still mandated, but the objectives provide the context, which helps auditors focus their

judgment about how the requirements should be incorporated into their engagements and whether the

related application guidance is applicable in the circumstances.

• Many of the detailed procedures and considerations that were required in the existing standards are not

specified in the clarified standards. Instead, a basic requirement is stated and the application guidance

supplies a discussion about how the requirement may be implemented. (The term may does not connote a

requirement, merely a possibility that might be considered.) Thus, the application guidance provides

alternative ways of meeting the objectives and requirements, none of which is specifically required. The

auditor can use a method discussed in the application guidance or choose another approach to fulfilling the

requirement.

• The guidance is written in the context of the range of possible financial reporting frameworks. The clarified

standards are equally applicable to all financial reporting frameworks; they do not presume that GAAP

underlies the financial statements. Accordingly, they no longer deal with specific GAAP-related issues, but

speak to broader concerns.



101.6 This is not to say the standards do not include detailed rules. The auditing guidance (excluding special

engagements) in SAS No. 122, for example, contains roughly 500 paragraphs of requirements, many of which

include multiple requirements. Nonetheless, the standards are written to be more broadly applicable.

101.7 It is hard to predict the effect of any change in philosophy on peer reviews. Early drafts of the peer review

checklists to be used for audits done under the clarified standards remain requirement-based.

101.8 Unconditional Requirements

Unconditional requirements are those the auditor always has to comply with (as opposed to presumptively

mandatory requirements). The existing standards use the terms must or is required to denote unconditional

requirements. The clarified standards use only the term must. In addition, the number of unconditional

requirements is dramatically curtailed. While the existing standards use the term dozens of times, the clarified

standards use it just four times, three of which deal with the term itself (the fourth requires independence). The

term must is used in the clarified standards only when no alternative procedure would achieve the objective.

101.9 The 10 GAAS

The 10 generally accepted auditing standards (three general standards, three fieldwork standards, and four

reporting standards) have been deleted. Although they were historically significant, they had no more authority

than the rest of the auditing standards and, given the revision and recodification of the standards to conform to

the international standards, they no longer provide the structure for the codification.

101.10 Objectives

Each AU-C section establishes objectives the auditor needs to achieve. If the procedures required by the section

do not accomplish the stated objective, additional procedures need to be applied. Taken together, they

summarize the effort needed in an audit. Appendix 1A provides a comprehensive list of the objectives in SAS

Nos. 122-127 that can be used to focus the auditor's attention on the audit's goals.

101.11 Financial Reporting Framework

The clarified standards assume a more principles-based perspective than their predecessors. They no longer

presume that GAAP provides the basis of accounting underlying the financial statements, which makes it easier

to apply the standards in a non-GAAP environment. On the other hand, the standards require that the auditor has

to be satisfied that the financial reporting framework applicable to the engagement is acceptable. This is generally

not an issue if GAAP is used because GAAP is presumed to be appropriate, but it creates a new requirement in

non-GAAP situations.

101.12 Engagement Letters

The engagement letter requirements have changed, so using last year's engagement letter will probably not

comply with the new standards. Although multi-year engagement letters are still permitted, the auditor using a

multi-year letter has to remind management of the terms of the engagement each year and document the

reminder.



101.13 Group Audits

The most extensive change in SAS No. 122 concerns reporting on group financial statements (AU-C 600). AU-C

600 replaces AU 543, which primarily dealt with reporting on consolidated financial statements and the decision

about whether or not to refer to another auditor who reported on a subsidiary or other component. AU-C 600 is

much broader: it applies whenever there are component entities in the financial statements, even when different

audit teams from the same firm are involved. It requires the group auditor to be far more involved with the audit of

and decisions made at the level of the financial statement components that might be the province of a component

auditor. It deals with engagement acceptance, the group auditor's determination of materiality at the group and

component level, how components should be tested, and communications between the group auditor and

component auditors. Section 501 discusses this new standard. AU-C 600 was subsequently modified by SAS No.

127.

101.14 Negative Confirmations

SAS No. 67 essentially prohibited using negative confirmations to obtain evidence on most audits; they could be

used as substantive procedures only when controls were effective, among other requirements. AU-C 505 allows

their use in all cases and says that they can even be the sole substantive procedure if certain conditions are met.

101.15 Specialists

The clarified standards provide different rules for the use of non-accounting specialists depending on who

engages them. Management-engaged specialists are discussed in AU-C 500. If the auditor engages a specialist,

whether or not the specialist works for the auditor's firm, the requirements for using the specialist's work are

spelled out in AU-C 620. If the specialist is a member of the audit team, the specialist is treated like any other

member of the team, subject to the usual supervision and review standards.

101.16 Representation Letters

The management representation letter is substantially different under AU-C 580. Practitioners will not be able to

cut and paste last year's letter.

101.17 Fair Presentation

Historically, the standards never used the term fair presentation or fairly present unless it was modified to refer to

the criteria used such as “in conformity with GAAP.” The clarified standards, in contrast, use the term on its own

and say that mere conformity with GAAP, or another framework, does not necessarily mean the financial

statements are fairly presented. This concept is easy to take out of context. The standards make clear that it is

rare to depart from the framework (that is, deviations from the recognition or measurement rules or omission of a

required disclosure), just as it always was. The financial statements may have to provide disclosures in addition

to those required by the framework, which was not uncommon even before the clarified standards.

101.18 Audit Report

Although the report is substantively unchanged, the format is very different. The standard report is now six

paragraphs instead of three. It is required to use headings to identify the content of the different sections of the



standard report and any additional paragraphs. The new report is discussed in Chapter 6.

Practitioner Question: What is the status of the auditing interpretations related to the standards that are being

superseded?

Answer: Some of the auditing interpretations have been carried forward into the codification of the clarified

standards. Others are deleted either because their substance has been incorporated into the body of the

standard or because the Auditing Standards Board believed they were no longer appropriate. Interpretations are

not separately exposed or issued like standards, so the only way to know whether they have been retained is by

looking for them in the new codification. Each section in this Guide provides a reconciliation of the new and old

standards that discusses the disposition of each interpretation.

Roadmap to the New Standards

101.19 Exhibit 1-1 shows where guidance in the existing standards has been moved in the clarified standards. It

is taken from the exhibit to SAS No. 122.

Exhibit 1-1

Location of Existing AU Sections in Clarified SASs

Previous AU Section AU Superseded AU-C Section AU-C #

Statements on Auditing Standards—Introduction

110Responsibilities and Functions of the

Independent AuditorAll

120

Defining Professional Requirements

in Statements on Auditing Standards

All

Overall Objectives of the

Independent Auditor and the

Conduct of an Audit in

Accordance With Generally

Accepted Auditing Standards

[1]

200

150Generally Accepted Auditing

StandardsAll

161

The Relationship of Generally

Accepted Auditing Standards to

Quality Control StandardsAll

Quality Control for an

Engagement Conducted in



220

The General Standards

201Nature of the General

StandardsAll

210Training and Proficiency of the

Independent AuditorAll

Overall Objectives of the

Independent Auditor and the

200




220 Independence All Conduct of an Audit in



[1]

230Due Professional Care in the

Performance of WorkAll

The Standards of Field Work

311 Planning and SupervisionAll except .08-.10 Planning an Audit 300

.08-.10 Terms of Engagement 210

312Audit Risk and Materiality in

Conducting an AuditAll

Materiality in Planning and

Performing an Audit320

Evaluation of Misstatements

Identified During the Audit450

314

Understanding the Entity and Its

Environment and Assessing the Risks

of Material MisstatementAll

Understanding the Entity and

Its Environment and

Assessing the Risks of

Material Misstatement

315

315Communications Between

Predecessor and Successor Auditors

All except .03-.10

and .14

Opening Balances—Initial

Audit Engagements,

Including Reaudit

Engagements

510

.03-.10 and .14 Terms of Engagement 210

316Consideration of Fraud in a Financial

Statement AuditAll

Consideration of Fraud in a

Financial Statement Audit240

317 Illegal Acts by Clients All

Consideration of Laws and

Regulations in an Audit of

Financial Statements

250

318

Performing Audit Procedures in

Response to Assessed Risks and

Evaluating the Audit Evidence

Obtained

All

Performing Audit Procedures

in Response to Assessed

Risks and Evaluating the

Audit Evidence Obtained

330

322

The Auditor's Consideration of the

Internal Audit Function in an Audit of

Financial Statements All

The Auditor's Consideration

of the Internal Auditor

Function in an Audit of

Financial Statements

(working title) a

610

324 Service Organizations All

Audit Considerations

Relating to an Entity Using a

Service Organization

402

325

Communicating Internal Control

Related Matters Identified in an Audit All

Communicating Internal

Control Related Matters

Identified in an Audit

265

326 Audit Evidence All Audit Evidence 500




328Auditing Fair Value Measurements

and DisclosuresAll

Auditing Accounting

Estimates, Including Fair

Value Accounting Estimates,

and Related Disclosures [2]

540

329 Analytical Procedures All Analytical Procedures 520

330 The Confirmation Process All External Confirmations 505

331 Inventories All

Audit Evidence—Specific

Considerations for Selected

Items [3]

501

332

Auditing Derivative Instruments,

Hedging Activities, and Investments

in Securities

All



Items [3]

501

333 Management Representations All Written Representations 580

334 Related Parties All Related Parties 550

336Using the Work of a Specialist

AllUsing the Work of an

Auditor's Specialist620

337

Inquiry of a Client's Lawyer

Concerning Litigation, Claims, and

Assessments

All



Items [3]

501

339 Audit Documentation All Audit Documentation 230

341

The Auditor's Consideration of an

Entity's Ability to Continue as a Going

ConcernAll

The Auditor's Consideration

of an Entity's Ability to

Continue as a Going

Concern

570

342 Auditing Accounting Estimates All

Auditing Accounting

Estimates, Including Fair

Value Accounting Estimates,

and Related Disclosures [2]

540

350 Audit Sampling All Audit Sampling 530

380

The Auditor's Communication With

Those Charged With Governance All

The Auditor's Communication

With Those Charged With

Governance

260

390

Consideration of Omitted Procedures

After the Report Date All

Consideration of Omitted

Procedures After the Report

Release Date

585

The First, Second, and Third Standards of Reporting

410

Adherence to Generally Accepted

Accounting

Principles

All

Forming an Opinion and

Reporting on Financial

Statements [4]

700

420 All Consistency of Financial

Statements

708




Consistency of Application of

Generally Accepted Accounting

Principles

431Adequacy of Disclosure in Financial

StatementsAll

Modifications to the Opinion

in the Independent Auditor's

Report [5]

705

The Fourth Standard of Reporting

504Association With Financial

StatementsAll Withdrawn N/A



Statements [4]

700

.01-.11, .14-.15,

.19-.32, .35-.52,

.58-.70, and .74-

.76

Modifications to the Opinion

in the Independent Auditor's

Report [5]

705

Emphasis-of-Matter

Paragraphs and Other-Matter

Paragraphs in the

Independent Auditor's Report

[6]

706

508Reports on Audited Financial

Statements.12-.13

Special Considerations—

Audits of Group Financial

Statements (Including the

Work of Component

Auditors)

600

.16-.18, .53-.57Consistency of Financial

Statements708

.33-.34


Audits of Single Financial

Statements and Specific

Elements, Accounts, or Items

of a Financial Statement

805

.71-.73

Subsequent Events and

Subsequently Discovered

Facts [7]

560

530Dating of the Independent Auditor's

Report

.01-.02



Statements [4]

700

.03-.08

Subsequent Events and


Facts [7]

560

532Restricting the Use of an Auditor's

ReportAll

Alert That Restricts the Use

of the Auditor's Written

Communication

905




534 Reporting on Financial Statements

Prepared for Use in Other Countries

All Financial Statements

Prepared in Accordance With

a Financial Reporting

Framework Generally

Accepted in Another Country

910

543Part of Audit Performed by Other

Independent AuditorsAll


Audits of Group Financial

Statements (Including the

Work of Component

Auditors)

600

544Lack of Conformity With Generally

Accepted Accounting PrinciplesAll


Audits of Financial

Statements Prepared in

Accordance With Special

Purpose Frameworks [8]

800

550

Other Information in Documents

Containing Audited Financial

Statements

All

Other Information in

Documents Containing

Audited Financial Statements

720

551

Supplementary Information in

Relation to the Financial Statements

as a Whole

All

Supplementary Information in

Relation to the Financial

Statements as a Whole

725

552

Reporting on Condensed Financial

Statements and Selected Financial

Data

All

Engagements to Report on

Summary Financial

Statements

810

558Required Supplementary Information

AllRequired Supplementary

Information730

560 Subsequent Events AllSubsequent Events and


Facts [7]

560561

Subsequent Discovery of Facts

Existing at the Date of the Auditor's

Report

All

Other Types of Reports

.01-.10 and .22-

.34


Audits of Financial

Statements Prepared in

Accordance With Special

Purpose Frameworks [8]

800

623 Special Reports .11-.18


Audits of Single Financial

Statements and Specific

Elements, Accounts, or Items

of a Financial Statement

805

.19-.21 Reporting on Compliance

With Aspects of Contractual

Agreements or Regulatory

Requirements in Connection

806




With Audited Financial

Statements

625Reports on the Application of

Accounting PrinciplesAll

Reports on Application of

Requirements of an

Applicable Financial

Reporting Framework

915

634

Letters for Underwriters and Certain

Other Requesting Parties All

Letters for Underwriters and

Certain Other Requesting

Parties

920

Special Topics

711Filings Under Federal Securities

StatutesAll

Filings With the U.S.

Securities and Exchange

Commission Under the

Securities Act of 1933

925

722 Interim Financial Information All Interim Financial Information 930

Compliance Auditing

801 Compliance Audits All Compliance Audits 935

Special Reports of the Committee on Auditing Procedure

901

Public Warehouses—Controls and

Auditing Procedures for Goods Held All



Items [3]

501

Legend:

[n] — Bracketed number indicates a clarified standard that supersedes more than one extant AU section.

Notes:

a Not finalized as of March 2013.

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