Wiley Practitioner's Guide to Gaas 2010: Covering All Sass, Ssaes, Ssarss, and Interpretations

by Steven M. Bragg (Englewood, Colorado)

• ISBN13: 9780470453261
• ISBN10: 0470453265
• Format: Paperback
• Copyright: 2009-11-01
• Publisher: Wiley

Summary

Your clearest, easiest-to-use guide to understanding GAAS 2010 on the market-fully updated!This latest resource to understanding GAAS addresses the toughest part of your job-identifying, interpreting, and applying the many audit, attest, review, and compilation standards relevant to a particular engagement.Wiley Practitioner's Guide to GAAS 2010 offers you 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 compliant with each standard Examples and illustrations for testing internal controlsThe only GAAS reference organized according to your actual use of the Statements on Auditing Standards (SASs), Wiley Practitioner's Guide to GAAS 2010 presents each statement individually, explaining how the standards are related and offering you guidance on the entire engagement process in the form of practice notes, checklists, questionnaires, and real-world examples that illustrate how the fundamental requirements of each section are applied.

Table of Contents

Preface

Summary of Key Changes

100-230

The Auditor's Responsibilities and Functions, Introduction to GAAS and the General Standards

311 Planning and Supervision

312 Audit Risk and Materiality in Conducting an Audit

314 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement

315 Communications between Predecessor and Successor Auditors

316 Consideration of Fraud in a Financial Statement Audit

317 Illegal Acts by Clients

318 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained

322 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements

324 Service Organizations

325 Communicating Internal Control Related Matters Identified in an Audit

326 Evidential Matter

328 Auditing Fair Value Measurements and Disclosures

329 Analytical Procedures

330 The Confirmation Process

331 Inventories

332 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities

333 Management Representations

334 Related Parties

336 Using the Work of a Specialist

337 Inquiry of Client's Lawyer Concerning Litigation, Claims, and Assessments

339 Audit Documentation

341 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern

342 Auditing Accounting Estimates

350 Audit Sampling

380 The Auditor's Communication with Those Charged with Governance

390 Consideration of Omitted Procedures After the Report Date 410/411

Adherence to GAAP (410) and the Meaning of "Present Fairly in Conformity with GAAP"(411)

420 Consistency of Application of Generally Accepted Accounting Principles

431 Adequacy of Disclosure in Financial Statements

504 Association with Financial Statements

508 Reports on Audited Financial Statements

530 Dating of the Independent Auditor's Report

532 Restricting the Use of an Auditor's Report

534 Reporting on Financial Statements Prepared for Use in Other Countries

543 Part of Audit Performed by Other Independent Auditors

544 Lack of Conformity with Generally Accepted Accounting Principles

550 Other Information in Documents Containing Audited Financial Statements

551 Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents

552 Reporting on Condensed Financial Statements and Selected Financial Data

558 Required Supplementary Information

560 Subsequent Events

561 Subsequent Discovery of Facts Existing at the Date of the Auditor's Report

623 Special Reports

625 Reports on the Application of Accounting Principles

634 Letters for Underwriters and Certain Other Requesting Parties

711 Filings under Federal Securities Statutes

722 Interim Financial Information

801 Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance

901 Public Warehouses: Controls and Auditing Procedures for Goods Held

2101 Attestation Engagements

2201 Agreed-Upon Procedures Engagements

2301 Financial Forecasts and Projections

2401 Reporting on Pro Forma Financial Information

2501 Reporting on an Entity's Internal Control over Financial Reporting

2601 Compliance Attestation

2701 Management's Discussion and Analysis (MD&A)

3100 Compilation and Review of Financial Statements

3110 Compilations of Specified Elements, Accounts, or Items of a Financial Statement

3120 Compilation of Pro Forma Financial Information

3200 Reporting on Comparative Financial Statements

3300 Compilation Reports on Financial Statements Included in Certain Prescribed Forms

3400 Communications between Predecessor and Successor Accountants

3600 Reporting on Personal Financial Statements Included in Written Personal Financial Plans

References in Auditor's Reports to the Standards of the Public Company Accounting Oversight Board

Audit Documentation

Reporting on Whether a Previously Reported Material Weakness Continues to Exist

An Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements

Evaluating Consistency of Financial Statements

Cross-References to SASs, SSAEs, and SSARSs

List of AICPA Audit and Accounting Guides and Auditing Statements of Position

Other Auditing Publications in the GAAS Hierarchy

Index

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