Wiley Practitioner's Guide to GAAS 2008 : Covering All SASs, SSAEs, SSARSs, and Interpretations

by Michael J. Ramos

• ISBN13: 9780470135310
• ISBN10: 047013531X
• Edition: 5th
• Format: Paperback
• Copyright: 2007-12-01
• Publisher: Wiley

Summary

This latest resource to understanding GAAS addresses the toughest part of an accountant's job-identifying, interpreting, and applying the many audit, artist, review, and compilation standards relevant to particular engagement. Wiley Practitioner's Guide to GAAS 2008 offers the accounting professional a clear, accessible distillation of the official language of those standards, Statement son Standards for Attestation Engagements (SSAEs), and Statements on Standards for Accounting and review Services (SSARSs)-as well as advice on exactly when and how to remain fully compliant with each. The only GAAS reference organized according to practitioners' actual use of the Statements on Auditing Standards, Wiley Practitioner's Guide to GAAS 2008 presents each statement individually, explaining how the standards are related and offering guidance on the entire engagement process in the form of practice notes, checklists, questionnaires, and real-world examples that illustrates how the fundamental requirements of each section are applied. Other key features include: A brief identification of each SAS, SSAE, and SSARS, with its effective date and tips on when to apply it A convenient and comprehensive glossary of official definitions, which are usually scattered throughout a standard Behind-the-scenes explanations of the reasons for each pronouncement and brief explanations of the basic ideas of the section Concise listing and descriptions of each standard's specific mandates Easy-to-read capsule summary of interpretations, plus selected AICPA practice alerts and advisories Helpful techniques for remaining complaint with each standard New in GAAS 2008! SAS No.113 Omnibus-2006 SAS No.114 The Auditor's Communication with Those Charged with Governance (section) 380 More guidance on the Risk Assessment Standards Tips and examples for communicating internal control maters Updated guidance from the PCAOB And more

Table of Contents

Preface	p. vii
Summary of Key Changes	p. xi
100-230 The Auditor's Responsibilities and Functions, Introduction to GAAS and the General Standards	p. 1
310 Appointment of the Independent Auditor	p. 11
312 Audit Risk and Materiality in Conducting an Audit	p. 22
315 Communications between Predecessor and Successor Auditors	p. 37
316 Consideration of Fraud in a Financial Statement Audit	p. 45
317 Illegal Acts by Clients	p. 71
318 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement	p. 76
322 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements	p. 99
324 Service Organizations	p. 110
325 Communication of Internal Control Related Matters Noted in an Audit	p. 125
326 Evidential Matter	p. 137
327 Performing Procedures	p. 143
328 Auditing Fair Value Measurements and Disclosures	p. 162
329 Analytical Procedures	p. 170
330 The Confirmation Process	p. 185
331 Inventories	p. 199
332 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities	p. 210
333 Management Representations	p. 225
334 Related Parties	p. 239
336 Using the Work of a Specialist	p. 251
337 Inquiry of Client's Lawyer Concerning Litigation, Claims, and Assessments	p. 262
339 Audit Documentation	p. 276
341 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern	p. 287
342 Auditing Accounting Estimates	p. 300
350 Audit Sampling	p. 307
380 The Auditor's Communication with Those Charged with Governance	p. 329
390 Consideration of Omitted Procedures After the Report Date	p. 338
410/411 Adherence to GAAP (410) and the Meaning of "Present Fairly in Conformity with GAAP" (411)	p. 344
420 Consistency of Application of Generally Accepted Accounting Principles	p. 353
431 Adequacy of Disclosure in Financial Statements	p. 359
504 Association with Financial Statements	p. 361
508 Reports on Audited Financial Statements	p. 368
530 Dating of the Independent Auditor's Report	p. 397
532 Restricting the Use of an Auditor's Report	p. 402
534 Reporting on Financial Statements Prepared for Use in Other Countries	p. 405
543 Part of Audit Performed by Other Independent Auditors	p. 410
544 Lack of Conformity with Generally Accepted Accounting Principles	p. 421
550 Other Information in Documents Containing Audited Financial Statements	p. 423
551 Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents	p. 431
552 Reporting on Condensed Financial Statements and Selected Financial Data	p. 440
558 Required Supplementary Information	p. 447
560 Subsequent Events	p. 453
561 Subsequent Discovery of Facts Existing at the Date of the Auditor's Report	p. 462
623 Special Reports	p. 467
625 Reports on the Application of Accounting Principles	p. 492
634 Letters for Underwriters and Certain Other Requesting Parties	p. 498
711 Filings under Federal Securities Statutes	p. 538
722 Interim Financial Information	p. 545
801 Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance	p. 568
901 Public Warehouses: Controls and Auditing Procedures for Goods Held	p. 575
2101 Attestation Engagements	p. 581
2201 Agreed-upon Procedures Engagements	p. 604
2301 Financial Forecasts and Projections	p. 614
2401 Reporting on Pro Forma Financial Information	p. 639
2501 Reporting on an Entity's Internal Control over Financial Reporting	p. 649
2601 Compliance Attestation	p. 663
2701 Management's Discussion and Analysis (MD&A)	p. 676
3100 Compilation and Review of Financial Statements	p. 683
3110 Compilations of Specified Elements, Accounts, or Items of a Financial Statement	p. 719
3120 Compilation of Pro Forma Financial Information	p. 722
3200 Reporting on Comparative Financial Statements	p. 725
3300 Compilation Reports on Financial Statements Included in Certain Prescribed Forms	p. 732
3400 Communications between Predecessor and Successor Accountants	p. 734
3600 Reporting on Personal Financial Statements Included in Written Personal Financial Plans	p. 738
PCAOB Auditing Standards	p. 740
Cross-References to SASs, SSAEs, and SSARSs	p. 749
List of AICPA Audit and Accounting Guides and Auditing Statements of Position	p. 753
Other Auditing Publications in the GAAS Hierarchy	p. 755
Index	p. 757
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