The 1999 Student's Gaas Guide: Covers Statements on Auditing Standards, Statements on Standards for Attestation Engagements, and Statements on Standards for Accounting and Review so

by Guy, Dan M.; Carmichael, D. R.

• ISBN13: 9780471298533
• ISBN10: 0471298530
• Format: Paperback
• Copyright: 1999-05-01
• Publisher: John Wiley & Sons Inc

Summary

A clear and easy-to-use GAAS resource. The Generally Accepted Auditing Standards (GAAS) cover all the auditing standards, practices, and procedures in use today. This indispensable guide explains and interprets the standards in clear, non-technical language, presents each statement one by one, and explains how to standards are related. It also includes practice notes, practical illustrations, checklists, and questionnaires to guide the user through the auditing process. D. R. Carmichael, CPA, PhD (New York, NY) is the Wollman Distinguished Professor of Accounting at Bernard M. Baruch College. Dan Guy, CPA, PhD (New York, NY) is the former Vice President of Auditing Standards at AICPA.

Table of Contents

The Auditor's Responsibilities and Functions, Introduction to GAAS and the General Standards	100	(210)
Appointment of the Independent Auditor	310	(1)
Planning and Supervision	311	(1)
Audit Risk and Materiality in Conducting an Audit	312	(1)
Substantive Tests Prior to the Balance Sheet Date	313	(2)
Communications Between Predecessor and Successor Auditors	315	(1)
Consideration of Fraud in a Financial Statement Audit	316	(1)
Illegal Acts by Clients	317	(2)
Consideration of Internal Control in a Financial Statement Audit	319	(3)
The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements	322	(2)
Reports on the Processing of Transactions by Service Organizations	324	(1)
Communication of Internal Control Related Matters Noted in an Audit	325	(1)
Evidential Matter	326	(3)
Analytical Procedures	329	(1)
The Confirmation Process	330	(1)
Inventories	331	(1)
Auditing Investments	332	(1)
Management Representations	333	(1)
Related Parties	334	(2)
Using the Work of a Specialist	336	(1)
Inquiry of Client's Lawyer Concerning Litigation, Claims, and Assessments	337	(2)
Working Papers	339	(2)
The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern	341	(1)
Auditing Accounting Estimates	342	(8)
Audit Sampling	350	(30)
Communication With Audit Committees	380	(10)
Consideration of Omitted Procedures After the Report Date	390	(20)
Adherence to GAAP (410) and the Meaning of ``Present Fairly in Conformity With GAAP'' in the Independent Auditor's Report (411)	410
Consistency of Application of Generally Accepted Accounting Principles	420
Adequacy of Disclosure in Financial Statements	431
Association With Financial Statements	504
Reports on Audited Financial Statements	508
Dating of the Independent Auditor's Report	530
Restricting the Use of an Auditor's Report	532
Reporting on Financial Statements Prepared for Use in Other Countries	534
Part of Audit Performed by Other Independent Auditors	543
Lack of Conformity With Generally Accepted Accounting Principles	544
Other Information in Documents Containing Audited Financial Statements	550
Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents	551
Reporting on Condensed Financial Statements and Selected Financial Data	552
Required Supplementary Information	558
Subsequent Events	560
Subsequent Discovery of Facts Existing at the Date of the Auditor's Report	561
Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement	622
Special Reports	623
Reports on the Application of Accounting Principles	625
Letters for Underwriters and Certain Other Requesting Parties	634
Filings Under Federal Securities Statutes	711
Interim Financial Information	722
Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance	801
Public Warehouses: Controls and Auditing Procedures for Goods Held	901
Attestation Standards	2100
Financial Forecasts and Projections	2200
Reporting on Pro Forma Financial Information	2300
Reporting on an Entity's Internal Control Over Financial Reporting	2400
Compliance Attestation	2500
Agreed-Upon Procedures Engagements	2600
Management's Discussion and Analysis (MD&A)	2700
Compilation and Review of Financial Statements	3100
Reporting on Comparative Financial Statements	3200
Compilation Reports on Financial Statements Included in Certain Prescribed Forms	3300
Communications Between Predecessor and Successor Accountants	3400
Reporting on Personal Financial Statements Included in Written Personal Financial Plans	3600
Appendix: List of SAS, SSAE, and SSARS Interpretations
Index