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A89804 1 (2010-05-19)

handle is hein.gao/gaobadvxg0001 and id is 1 raw text is: GA ~G A 0 Accountabiilty I Integrity I Reiabhility United States Government Accountability Office Washington, DC 20548 May 19, 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) February 2010 Exposure Draft for a proposed Statement on Auditing Standards (SAS), entitled Consistency of Financial Statements. This letter provides the U.S. Government Accountability Office's (GAO) comments on the ASB's proposed SAS on consistency of financial statements. Overall we agree with and support the proposed SAS. Our comments on changes resulting from applying the clarity drafting conventions and other comments are detailed below. The attachment to this letter includes suggested editorial and other changes. Comments from applying the clarity conventions (1) We believe that the objectives to be achieved by the auditor as stated in the proposed SAS are appropriate but incomplete, as explained in our comment on aligning the objectives, scope, and requirements of the proposed SAS. (2) We agree with the revisions made to the existing standard. (3) Although the SAS does not include considerations for audits of government entities, we agree that the governmental considerations have been dealt with appropriately and we are not aware of any that should be included in the proposed standard.

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