About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

A89891 1 (2010-05-26)

handle is hein.gao/gaobadvxi0001 and id is 1 raw text is: GA 0 . . AcountabiIlty I Integrity I Reliability United States Government Accountability Office Washington, DC 20548 May 26, 2010 Ms. Sharon Macey Audit and Attest Standards American Institute of Certified Public Accountants (AICPA) 1211 Avenue of the Americas New York, New York 10036-8775 Subject: AICPA Auditing Standards Board (ASB) February 2010 Exposure Draft for the proposed Statement on Auditing Standards (SAS), entitled Consideration of Omitted Procedures After the Report Release Date. This letter provides the U.S. Government Accountability Office's (GAO) comments on the ASB's proposed standards on Consideration of Omitted Procedures After the Report Release Date. We support the proposed SAS and believe that it will help clarify the auditor's responsibilities when, subsequent to the report release date, the auditor concludes that one or more auditing procedures considered necessary to be performed at the time of the audit were omitted from the audit of the financial statements. Our responses to the questions on the changes resulting from applying the clarity drafting conventions and other comments are included in this letter. GAO's Comments to Specific Questions (1) Are the auditor's objectives appropriate? Yes, we believe that the auditor's objectives are appropriate. (2) Have considerations for audits of smaller, less complex entities and governmental entities been dealt with appropriately. The proposed SAS does not include any special considerations for audits of smaller, less complex entities or for governmental entities. We are not aware of any unique issues in audits of governmental entities concerning omitted procedures. Therefore, we believe no special considerations are warranted for the proposed SAS.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most