Statements on Auditing Standards (United States)

In the United States, Statements on Auditing Standards provide guidance to external auditors on generally accepted auditing standards (abbreviated as GAAS) in regards to auditing an entity and issuing a report. They are promulgated by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA), which holds all copyright on the Standards. They are commonly abbreviated as "SAS" followed by their respective number and title.

List of Statements of Auditing Standards

No.	Title	Issue Date	Status
1	Codification of Auditing Standards and Procedures	November 1972	In effect
2	Reports on Audited Financial Statements	October 1974	Superseded by SAS 58
3	The Effects of EDP on the Auditor’s Study and Evaluation of Internal Control	December 1974	Superseded by SAS 48
4	Quality Control Considerations for a Firm of Independent Auditors	December 1974	Superseded by SAS 25
5	The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" in the Independent Auditor's Report	July 1975	Superseded by SAS 69
6	Related Party Transactions	July 1975	Superseded by SAS 45
7	Communications Between the Predecessor and Successor Auditors	October 1975	Superseded by SAS 84
8	Other Information in Documents Containing Audited Financial Statements	December 1975	In effect
9	The Effect of an Internal Audit Function on the Scope of the Independent Auditor's Examination	December 1975	Superseded by SAS 65
10	Limited Review of Interim Financial Information	December 1975	Superseded by SAS 24
11	Using the Work of a Specialist	December 1975	Superseded by SAS 73
12	Inquiry of a Client's Lawyer Concerning Litigation, Claims, and Assessments	January 1976	In effect
13	Reports on a Limited Review of Interim Financial Information	May 1976	Superseded by SAS 24
14	Special Reports	December 1976	Superseded by SAS 62
15	Reports on Comparative Financial Statements	December 1976	Superseded by SAS 58
16	The Independent Auditor's Responsibility	January 1977	Superseded by SAS 53
17	Illegal Acts by Clients	January 1977	Superseded by SAS 54
18	Unaudited Replacement Cost-Information	May 1977	Withdrawn by the ASB
19	Client Representations	June 1977	Superseded by SAS 85
20	Required Communication of Material Weaknesses in Internal Accounting Control	August 1977	Superseded by SAS 60
21	Segment Information	December 1977	Withdrawn by the ASB
22	Planning and Supervision	March 1978	In effect
23	Analytical Review Procedures	October 1978	Superseded by SAS 56
24	Review of Interim Financial Information	March 1979	Superseded by SAS 36
25	The Relationship of Generally Accepted Auditing Standards to Quality Control Standards	November 1979	In effect
26	Association with Financial Statements	November 1979	In effect
27	Supplementary Information Required by the Financial Accounting Standards Board	December 1979	Superseded by SAS 52
28	Supplementary Information on the Effects of Changing Prices	June 1980	Superseded by SAS 52
29	Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents	July 1980	In effect
30	Reporting on Internal Accounting Control	July 1980	Superseded by SSAE 2
31	Evidential Matter	August 1980	In effect
32	Adequacy of Disclosure of Financial Statements	October 1980	In effect
33	Supplementary Oil and Gas Reserve Information	October 1980	Superseded by SAS 45
34	The Auditor's Consideration When a Question Arises About and Entity's Continued Existence	March 1981	Superseded by SAS 59
35	Special Reports-Applying Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement	April 1981	Superseded by SAS 75
36	Review of Interim Financial Information	April 1981	Superseded by SAS 71
37	Filings Under Federal Securities Statutes	April 1981	In effect
38	Letters for Underwriters	April 1981	Superseded by SAS 49
39	Audit Sampling	June 1981	In effect
40	Supplementary Mineral Reserve Information	February 1982	Superseded by SAS 52
41	Working Papers	April 1982	Superseded by SAS 96
42	Reporting on Condensed Financial Statements and Selected Financial Data	September 1982	In effect
43	Omnibus Statement on Auditing Standards	August 1982	Superseded by various SAS
44	Special-Purpose Reports on Internal Accounting Control at Service Organizations	December 1982	Superseded by SAS 70
45	Omnibus Statement on Auditing Standards-1983	August 1983	In effect
46	Consideration of Omitted Procedures After the Report Date	September 1983	In effect
47	Audit Risk and Materiality in Conducting an Audit	December 1983	In effect
48	The Effects of Computer Processing on the Audit of Financial Statements	July 1984	In effect
49	Letters for Underwriters	September 1984	Superseded by SAS 72
50	Reports on the Application of Accounting Principles	July 1986	In effect
51	Reporting on Financial Statements Prepared for Use in Other Countries	July 1986	In effect
52	Omnibus Statement on Auditing Standards-1987	April 1988	In effect
53	The Auditor's Responsibility to Detect and Report Errors and Irregularities	April 1988	Superseded by SAS 82
54	Illegal Acts by Clients	April 1988	In effect
55	Consideration of Internal Control in a Financial Statement Audit	April 1988	In effect
56	Analytical Procedures	April 1988	In effect
57	Auditing Accounting Estimates	April 1988	In effect
58	Reports on Audited Financial Statements	April 1988	In effect
59	The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern	April 1988	In effect
60	Communication of Internal Control Related Matters Noted in an Audit	April 1988	Superseded by SAS 112
61	Communication With Audit Committees	April 1988	In effect
62	Special Reports	April 1989	In effect
63	Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance	April 1989	Superseded by SAS 68
64	Omnibus Statement on Auditing Standards-1990	December 1990	In effect
65	The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements	April 1991	In effect
66	Communication of Matters About Interim Financial Information Filed or to Be Filed with Special Regulatory Agencies-An Amendment to SAS No. 36: Review of Interim Financial Information	June 1991	Superseded by SAS 71
67	The Confirmation Process	November 1991	In effect
68	Compliance Auditing Considerations in Audits of Governmental Financial Assistance	December 1991	Superseded by SAS 74
69	The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles"	January 1992	In effect
70	Service Organizations	April 1992	In effect
71	Interim Financial Information	May 1992	Superseded by SAS 100
72	Letters for Underwriters and Certain Other Requesting Parties	February 1993	In effect
73	Using the Work of a Specialist	July 1994	In effect
74	Compliance Auditing Considerations in Audits of Governmental Financial Assistance	February 1995	In effect
75	Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement	September 1995	Superseded by SAS 93
76	Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties	September 1995	In effect
77	Amendments to Statements on Auditing Standards No. 22: Planning and Supervision, No. 59: The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, and No. 62: Special Reports	November 1995	In effect
78	Consideration of Internal Control in a Financial Statement Audit: An Amendment to Statement on Auditing Standards No. 55	December 1995	In effect
79	Amendment to Statement on Auditing Standards No. 58: Reports on Audited Financial Statements	December 1995	In effect
80	Amendment to Statement on Auditing Standards No. 31: Evidential Matter	December 1996	In effect
81	Auditing Investments	December 1996	Superseded by SAS 92
82	Consideration of Fraud in a Financial Statement Audit	February 1997	Superseded by SAS 99
83	Establishing and Understanding With the Client	October 1997	In effect
84	Communications Between the Predecessor and Successor Auditors	October 1997	In effect
85	Management Representations	November 1997	In effect
86	Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties	March 1998	In effect
87	Restricting the Use of the Auditor's Report	September 1998	In effect
88	Service Organizations and Reporting on Consistency	December 1999	In effect
89	Audit Adjustments	December 1999	In effect
90	Audit Committee Communications	December 1999	In effect
91	Federal GAAP Hierarchy	April 2000	In effect
92	Auditing Derivative Instruments, Hedging Activities, and Investments in Securities	September 2000	In effect
93	Omnibus Statement on Auditing Standards-2000	October 2000	In effect
94	The Effect of Information Technology on the Auditor's Consideration of Internal Control in a Financial Statement Audit	May 2001	In effect
95	Generally Accepted Auditing Standards	December 2001	In effect
96	Audit Documentation	January 2002	Superseded by SAS 103
97	Amendement to Statement on Auditing Standards No. 50: Reports on the Application of Accounting Principles	June 2002	In effect
98	Omnibus Statement on Auditing Standards-2002	September 2002	In effect
99	Consideration of Fraud in a Financial Statement Audit	October 2002	In effect
100	Interim Financial Information	November 2002	In effect
101	Auditing Fair Value Measurements and Disclosures	January 2003	In effect
102	Defining Professional Requirements in Statements on Auditing Standards	December 2005	In effect
103	Audit Documentation	December 2005	In effect
104	Amendement to Statement on Auditing Standards No. 1: Codification of Auditing Standards and Procedures (Due Professional Care in the Performance of Work)	February 2006	In effect
105	Amendment to Statement on Auditing Standards No. 95: Generally Accepted Auditing Standards	February 2006	In effect
106	Audit Evidence	February 2006	In effect
107	Audit Risk and Materiality in Conducting an Audit	February 2006	In effect
108	Planning and Supervision	February 2006	In effect
109	Understanding the Entity and its Environment and Assessing the Risks of Material Misstatements	February 2006	In effect
110	Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained	February 2006	In effect
111	Amendment to Statement on Auditing Standards No. 39: Audit Sampling	February 2006	In effect
112	Communicating Internal Control Related Matters Identified in an Audit	May 2006	In effect

Brief description of SAS in effect

• Statement on Auditing Standards (SAS) No. 55: Consideration of Internal Control requires the auditor to obtain an understanding of an entity’s internal control sufficient to plan any audit on such entity. Identifying and evaluating relevant controls is an important step in the user auditor’s overall audit approach.
• Statement on Auditing Standards (SAS) No. 70: Service Organizations is generally applicable when an auditor (“user auditor”) is auditing the financial statements of an entity (“user organization”) that obtains services from another organization (“service organization”). Service organizations that provide such services could be application service providers, bank trust departments, claims processing centers, Internet data centers, or other data processing service bureaus. SAS 70 provides guidance to enable an independent auditor, commonly known as a “service auditor” under this type of audit, to issue an opinion on a service organization’s description of controls through a Service Auditor’s Report. However, SAS 70 is not a pre-determined set of control objectives or control activities that service organizations must achieve.
• Statement on Auditing Standards (SAS) No. 99: Consideration of Fraud in a Financial Statement Audit requires the auditor to obtain an understanding of an entity’s internal control sufficient to plan any audit to be performed on such entity. Identifying and evaluating relevant controls is generally an important step in the user auditor’s overall approach.

See also

• Statements of Financial Accounting Standards

References

• Mark S. Beasley, Joseph V. Carcello, (October 28, 2005) Miller GAAS Guide 2006: A Comprehensive Restatement of Standards for Auditing, Attestation, Compilation, and Review, CCH (publisher), ISBN 9780808089865

External links

• AICPA official site
• Summaries of Recently Issued Auditing and Attestation Standards (AICPA official site)
• Exposure Drafts of Proposed Statements (AICPA official site)