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A89580 1 (2010-04-30)

handle is hein.gao/gaobadvxd0001 and id is 1 raw text is: i ~GAO Ac ntakbity I Integrity * Reliability United States Government Accountability Office Washington, DC 20548 April 30, 2010 Ms. Sherry Hazel 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) December 2009, Exposure Draft for a proposed Statement on Auditing Standards (SAS) Using the Work of an Auditor's Specialist. This letter provides the U.S. Government Accountability Office's (GAO) comments on the ASB's proposed standards on Using the Work of an Auditor's Specialist. GAO supports the proposed SAS and believes that it will clarify the auditor's responsibilities when using the work of an individual or organization possessing expertise in a field other than accounting or auditing when the work is used to assist the auditor in obtaining sufficient appropriate audit evidence. To converge with the International Standard on Auditing (ISA) 620, Using the Work of an Auditor's Expert, the ASB has proposed reorganizing the extant standard on Using the Work of a Specialist by moving the location of provisions on: o using the work of management specialists, and o using the work of internal specialists possessing expertise in fields other than accounting and auditing when their work is used to assist in obtaining sufficient appropriate audit evidence. We agree with this reorganization. Moving provisions on management specialists from Using the Work of a Specialist to the proposed SAS on Audit Evidence (Redrafted) will logically codify this evidence with other information prepared by management. Moving the above mentioned provisions on internal specialists from AU Section 311, Planning and Supervision, to the proposed SAS on Using the Work of a Specialist, will clarify that auditor responsibilities are the same regardless of whether the auditor is using a specialist employed by the audit organization or external to the audit organization. The Board is also seeking comments on the effect of applying the clarity drafting conventions to the proposed standard and converging it with the International Standards on Auditing (ISA) 620. We provide the requested comments in this letter. Editorial changes and other comments are included in the attachment to this letter.

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