Wiley Practitioner's Guide to GAAS 2022 Covering All SASs, SSAEs, SSARSs, and Interpretations

by Flood, Joanne M.

• ISBN13: 9781119875017
• ISBN10: 1119875013
• Edition: 1st
• Format: Paperback
• Copyright: 2022-04-05
• Publisher: Wiley

Summary

The most comprehensive and up-to-date guide to critical auditing standards, practices, and procedures for 2022

The American Institute of Certified Public Accountants (AICPA) sets the Generally Accepted Auditing Standards or GAAS under which U. S. audits are conducted in the United States. Auditors must comply with and understand every aspect of GAAS in order to comply with AICPA standards. As a result, it is crucial for CPAs to be up-to-date on all applicable guidelines, rules, and regulations.

Wiley Practitioner’s Guide to GAAS 2022 delivers a thorough description and analysis of not only auditing standards – SASs, but also SSAEs, SSARSs, and the Interpretations necessary to fully understand all the latest professional standards. The guide offers the most recent revisions to the standards, including those on:

• Materiality,
• Audit reports,
• ERISA audits,
• SSAE direct examination engagements, and
• Practitioner’s review reports.

 The Guide explains the standards clearly and accurately, providing explicit information on how to conduct your engagements efficiently, effectively, and properly—all in one resource.

In addition, Wiley Practitioner’s Guide to GAAS 2022 provides readers with:

• Practical direction on the steps necessary to help you comply with GAAS
• Comprehensive guidance on the entire auditing process, from start to finish
• Explanations of all attestation and review, compilation, and preparation standards
• A glossary of relevant terminology for each subject

A crucial resource for accountants and auditors who are looking for a comprehensive explanation of the information used on a daily basis, Wiley Practitioner’s Guide to GAAS 2022 is an invaluable resource written to save you time and simplify your compliance with professional standards.

 

 

 

 

 

The most comprehensive and up-to-date guide to critical auditing standards, practices, and procedures for 2022

Table of Contents

Preface—Organization and Key Changes

About the Author

1 AU-C 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Generally Accepted Auditing Standards

2 AU-C 210 Terms of Engagement

3 AU-C 220 Quality Control for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards

4 AU-C 230 Audit Documentation

5 AU-C 240 Consideration of Fraud in a Financial Statement Audit

6 AU-C 250 Consideration of Laws and Regulations in an Audit of Financial Statements

7 AU-C 260 The Auditor’s Communication with Those Charged with Governance

8 AU-C 265 Communicating Internal Control–Related Matters Identified in an Audit

9 AU-C 300 Planning an Audit

10 AU-C 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement

11 AU-C 320 Materiality in Planning and Performing an Audit

12 AU-C 330 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained

13 AU-C 402 Audit Considerations Relating to an Entity Using a Service Organization

14 AU-C 450 Evaluation of Misstatements Identified during the Audit

15 AU-C 500 Audit Evidence

16 AU-C 501 Audit Evidence—Specific Considerations for Selected Items

17 AU-C 505 External Confirmations

18 AU-C 510 Opening Balances—Initial Audit Engagements, Including Reaudit Engagements

19 AU-C 520 Analytical Procedures

20 AU-C 530 Audit Sampling

21 AU-C 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures

22 AU-C 550 Related Parties

23 AU-C 560 Subsequent Events and Subsequently Discovered Facts

24 AU-C 570 The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern    

25 AU-C 580 Written Representations

26 AU-C 585 Consideration of Omitted Procedures after the Report Release Date

27 AU-C 600 Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)

28 AU-C 610 Using the Work of Internal Auditors

29 AU-C 620 Using the Work of an Auditor’s Specialist

30 AU-C 700 Forming an Opinion and Reporting on Financial Statements

31 AU-C 701 Communicating Key Audit Matters in the Independent Auditor’s Report

32 AU-C 703 Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA

33 AU-C 705 Modifications to the Opinion in the Independent Auditor’s Report

34 AU-C 706 Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor’s Report

35 AU-C 708 Consistency of Financial Statements

36 AU-C 720 Other Information in Documents Containing Audited Financial Statements

37 AU-C 725 Supplementary Information in Relation to the Financial Statements as a Whole

38 AU-C 730 Required Supplementary Information

39 AU-C 800 Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks

40 AU-C 805 Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement

41 AU-C 806 Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements

42 AU-C 810 Engagements to Report on Summary Financial Statements

43 AU-C 905 Alert That Restricts the Use of the Auditor’s Written Communication

44 AU-C 910 Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country

45 AU-C 915 Reports on Application of Requirements of an Applicable Financial Reporting Framework

46 AU-C 920 Letters for Underwriters and Certain Other Requesting Parties

47 AU-C 925 Filings with the U.S. Securities and Exchange Commission under the Securities Act of 1933

48 AU-C 930 Interim Financial Information

49 AU-C 935 Compliance Audits

50 AU-C 940 An Audit of Internal Control over Financial Reporting that is Integrated with an Audit of Financial Statements

51 AU-C 945 Auditor Involvement with Exempt Offering Documents

52 AT-C Preface

53 AT-C 105 Concepts Common to All Attestation Engagements

54 AT-C 205 Examination Engagements

55 AT-C 206 Direct Examination Engagements

56 AT-C 210 Review Engagements

57 AT-C 215 Agreed-Upon Procedures Engagements

58 AT-C 305 Prospective Financial Information

59 AT-C 310 Reporting on Pro Forma Financial Information

60 AT-C 315 Compliance Attestation

61 AT-C 320 Reporting on an Examination of Controls at a Service Organization Relevant to User Entities’ Internal Control over Financial Reporting

62 AT-C 701 Management’s Discussion and Analysis

63 AR-C 60 General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services

64 AR-C 70 Preparation of Financial Statements

65 AR-C 80 Compilation Engagements

66 AR-C 90 Review of Financial Statements

67 AR-C 100 Special Considerations—International Reporting Issues

68 AR-C 120 Compilation of Pro Forma Financial Information

Appendix A Definitions of Terms—AU-C Standards

Appendix B Definitions of Terms—AT-C Standards

Appendix C Definitions of Terms—AR-C Standards

Appendix D Other Auditing Publications

Index