Wiley Practitioner's Guide to GAAS 2014: Covering All SASs, SSAEs, SSARSs, and Interpretations(Wiley Regulatory Reporting)

The clearest, easiest-to-use guide to understanding GAAS 2013 onthe market fully updated This latest resource to understanding GAAS addresses thetoughest part of the job identifying, interpreting, andapplying the many audit, attest, review, and compilation standardsrelevant to a particular engagement. The only GAAS referenceorganized according to practitioners' actual use of the Statementson Auditing Standards (SASs), inside you'll find explanations,practice notes, practical illustrations, checklists, andquestionnaires to guide users through the auditing process. * Detailed explanation of all new SAS standards * Updates and interpretations of new Statements on Standards forAccounting and Review Services (SSARS) Compilation and Reviewstatements * A brief identification of each SAS, SSAE, and SSARS, with itseffective date and tips on when to apply it * A convenient and comprehensive glossary of officialdefinitions, which are usually scattered throughout a standard * Behind-the-scenes explanations of the reasons for eachpronouncement and brief explanations of the basic ideas of thesection * Concise listing and descriptions of each standard's specificmandate * Easy-to-read capsule summary of interpretations, plus selectedAICPA practice alerts and advisories * Helpful techniques for remaining compliant with eachstandard * Examples and illustrations for testing internal controls Wiley Practitioner's Guide to GAAS 2014 presents eachstatement individually, explaining how the standards are relatedand offering guidance on the entire engagement process in the formof practice notes, checklists, questionnaires, and real-worldexamples that illustrate how the fundamental requirements of eachsection are applied.

Table of Contents:
Preface ix About the Author xiii Organization and Key Changes xv AU-C 200 Overall Objectives of the Independent Auditor and theConduct of an Audit in Accordance with Generally Accepted AuditingStandards 1 AU-C 210 Terms of Engagement 9 AU-C 220 Quality Control for an Engagement Conducted inAccordance with Generally Accepted Auditing Standards 17 AU-C 230 Audit Documentation 25 AU-C 240 Consideration of Fraud in a Financial Statement Audit37 AU-C 250 Consideration of Laws and Regulations in an Audit ofFinancial Statements 67 AU-C 260 The Auditor s Communication with Those Chargedwith Governance 73 AU-C 265 Communicating Internal Control Related MattersIdentified in an Audit 81 AU-C 300 Planning an Audit 91 AU-C 315 Understanding the Entity and Its Environment andAssessing the Risks of Material Misstatement 97 AU-C 320 Materiality in Planning and Performing an Audit 125 AU-C 330 Performing Audit Procedures in Response to AssessedRisks and Evaluating the Audit Evidence Obtained 131 AU-C 402 Audit Considerations Relating to an Entity Using aService Organization 161 AU-C 450 Evaluation of Misstatements Identified During the Audit171 AU-C 500 Audit Evidence 177 AU-C 501 Audit Evidence Specific Considerations forSelected Items 181 AU-C 505 External Confirmations 219 AU-C 510 Opening Balances Initial Audit Engagements,Including Reaudit Engagements 237 AU-C 520 Analytical Procedures 245 AU-C 530 Audit Sampling 259 AU-C 540 Auditing Accounting Estimates, Including Fair ValueAccounting Estimates and Related Disclosures 283 AU-C 550 Related Parties 297 AU-C 560 Subsequent Events and Subsequently Discovered Facts309 AU-C 570 The Auditor s Consideration of an Entity sAbility to Continue as a Going Concern 323 AU-C 580 Written Representations 339 AU-C 585 Consideration of Omitted Procedures After the ReportRelease Date 353 AU-C 600 Special Considerations Audits of Group FinancialStatements (Including the Work of Component Auditors) 359 AU-C 610 The Auditor s Consideration of the Internal AuditFunction in an Audit of Financial Statements 379 AU-C 620 Using the Work of an Auditor s Specialist 393 AU-C 700 Forming an Opinion and Reporting on FinancialStatements 405 AU-C 705 Modifications to the Opinion in the IndependentAuditor s Report 419 AU-C 706 Emphasis-of-Matter Paragraphs and Other-MatterParagraphs in the Independent Auditor s Report 437 AU-C 708 Consistency of Financial Statements 447 AU-C 720 Other Information in Documents Containing AuditedFinancial Statements 451 AU-C 725 Supplementary Information in Relation to FinancialStatements as a Whole 455 AU-C 730 Required Supplementary Information 463 AU-C 800 Special Considerations Audits of FinancialStatements Prepared in Accordance with Special Purpose Frameworks469 AU-C 805 Special Considerations Audits of Single FinancialStatements and Specific Elements, Accounts, or Items of a FinancialStatement 481 AU-C 806 Reporting on Compliance with Aspects of ContractualAgreements or Regulatory Requirements in Connection with AuditedFinancial Statements 493 AU-C 810 Engagements to Report on Summary Financial Statements501 AU-C 905 Alert That Restricts the Use of the Auditor sWritten Communication 511 AU-C 910 Financial Statements Prepared in Accordance with aFinancial Reporting Framework Generally Accepted in Another Country519 AU-C 915 Reports on Application of Requirements of an ApplicableFinancial Reporting Framework 525 AU-C 920 Letters for Underwriters and Certain Other RequestingParties 533 AU-C 925 Filings with the US Securities and Exchange CommissionUnder the Securities Act of 1933 571 AU-C 930 Interim Financial Information 577 AU-C 935 Compliance Audits 605 AT 20 Defining Professional Requirements in Statements onStandards for Attest Engagements 619 AT 50 SSAE Hierarchy 621 AT 101 Attest Engagements 625 AT 201 Agreed-Upon Procedures Engagements 651 AT 301 Financial Forecasts and Projections 663 AT 401 Reporting on Pro Forma Financial Information 691 AT 501 An Examination of an Entity s Internal Control OverFinancial Reporting That Is Integrated with an Audit of ItsFinancial Statements 705 AT 601 Compliance Attestation 729 AT 701 Management s Discussion and Analysis(MD&A) A Summary 745 AT 801 Reporting on Controls at a Service Organization 753 AR 60 90 Compilation and Review of Financial Statements775 AR 110 Compilation of Specified Elements, Accounts, or Items ofa Financial Statement 835 AR 120 Compilation of Pro Forma Financial Information 841 AR 200 Reporting on Comparative Financial Statements 847 AR 300 Compilation Reports on Financial Statements Included inCertain Prescribed Forms 861 AR 400 Communications Between Predecessor and SuccessorAccountants 865 AR 600 Reporting on Personal Financial Statements Included inWritten Personal Financial Plans 869 PCAOB 1 References in Auditors Reports to the Standardsof the Public Company Accounting Oversight Board 873 PCAOB 3 Audit Documentation 877 PCAOB 4 Reporting on Whether a Previously Reported MaterialWeakness Continues to Exist 885 PCAOB 5 An Audit of Internal Control Over Financial ReportingThat Is Integrated with an Audit of Financial Statements 899 PCAOB 6 Evaluating Consistency of Financial Statements 921 PCAOB 7 Engagement Quality Review 925 PCAOB 8 Audit Risk 929 PCAOB 9 Audit Planning 931 PCAOB 10 Supervision of the Audit Engagement 935 PCAOB 11 Consideration of Materiality in Planning and Performingan Audit 937 PCAOB 12 Identifying and Assessing Risks of MaterialMisstatement 941 PCAOB 13 The Auditor s Responses to the Risks of MaterialMisstatement 955 PCAOB 14 Evaluating Audit Results 963 PCAOB 15 Audit Evidence 969 PCAOB 16 Communication with Audit Committees 973 Appendix A: AU Sections Mapped to the Clarified AU-CSections 981 Appendix B: Cross-References to SASs, SSAEs, and SSARSs 989 Appendix C: List of AICPA Audit and Accounting Guides 991 Appendix D: Other Auditing Publications in the GAAS Hierarchy993 Index 995