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A88283 1 (2009-05-15)

handle is hein.gao/gaobadvuf0001 and id is 1 raw text is: I GA 0 T I IAccountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 May 15, 2009 Mr. Mike Glynn Audit and Attest Standards American Institute of Certified Public Accountants 1211 Avenue of the Americas New York, New York 10036-8775 Subject: AICPA Auditing Standards Board (ASB) January 21, 2009, Exposure Draft of the proposed Statements on Auditing Standards (SAS) entitled * Required Supplementary Information (RSI), * Other Information in Documents Containing Audited Financial Statements (OSI), and * Other Information in Relation to the Financial Statements as a Whole (In Relation To'). This letter provides the U.S. Government Accountability Office's (GAO) comments on the ASB's proposed standards on auditor's objectives and responsibilities with regard to (1) required supplementary information, (2) other information in documents containing audited financial statements, and (3) other information in relation to the financial statements as a whole. Generally, we support the proposed standards and believe they will provide clarity and improve consistency of practice concerning information associated with the basic financial statements and the auditor's report. The Board is seeking comments specifically on changes resulting from applying the clarity drafting conventions to the proposed standards and from converging the proposed SAS, Other Information in Documents Containing Audited Financial Statements with International Standard on Auditing (ISA) 720. We provide the requested comments and suggestions in this letter and propose wording changes in the attachment. Request for Specific Comments (1) Are the auditor's objectives appropriate? Yes, we believe that the auditor's objectives are appropriate.

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