Wiley Practitioner's Guide to GAAS 2019: Covering all SASs, SSAEs, SSARSs, PCAOB Auditing Standards, and Interpretations(Wiley Regulatory Reporting)

The definitive reference for clarified standards application and compliance, fully updated for 2019 The Wiley Practitioner's Guide to GAAS 2019 is the comprehensive and user-friendly guide to Generally Accepted Auditing Standards. Fully updated to reflect all new standards, practices, and statements—including Statements on Standards for Accounting and Review Services (SSARS) and Statements on Standards for Attestation Engagements (SSAE)—this essential resource offers practitioners a clear and complete reference in a single volume. This book provides complete coverage of relevant areas including audit planning and documentation, audit evaluation and evidence, examination and review engagements, and more to help auditors interpret and apply current auditing standards while maintaining full compliance with GAAS. General auditing standards are subject to frequent updates and divergent interpretations, yet practitioners need to keep pace with the latest changes if compliance is to be maintained. Employing a logical organizational structure, this guide defines and interprets each clarified standard and explains its relation to the engagement process. Practice notes, checklists, questionnaires, and relevant real-world examples demonstrate how each section is applied. This indispensable resource provides in-depth guidance on GAAS interpretation, application, and compliance to help you: Identify and apply each auditing, SSAE and SSARS section Understand new requirements in clarified attestation standards Access technical alerts, interpretation summaries, and individual section descriptions and definitions Employ techniques to maintain compliance with each standard TheWiley Practitioner's Guide to GAAS 2019 provides auditing professionals with the expert guidance and up-to-date information necessary to save you time, streamline your workload, and maximize your job performance. 

Table of Contents:
Preface—Organization and Key Changes ix About the Author xi AU-C 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Generally Accepted Auditing Standards 1 AU-C 210 Terms of Engagement 9 AU-C 220 Quality Control for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards 15 AU-C 230 Audit Documentation 21 AU-C 240 Consideration of Fraud in a Financial Statement Audit 33 AU-C 250 Consideration of Laws and Regulations in an Audit of Financial Statements 59 AU-C 260 The Auditor’s Communication with Those Charged with Governance 65 AU-C 265 Communicating Internal Control Related Matters Identified in an Audit 71 AU-C 300 Planning an Audit 81 AU-C 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement 87 AU-C 320 Materiality in Planning and Performing an Audit 115 AU-C 330 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 119 AU-C 402 Audit Considerations Relating to an Entity Using a Service Organization 149 AU-C 450 Evaluation of Misstatements Identified during the Audit 159 AU-C 500 Audit Evidence 163 AU-C 501 Audit Evidence—Specific Considerations for Selected Items 167 AU-C 505 External Confirmations 199 AU-C 510 Opening Balances—Initial Audit Engagements, Including Reaudit Engagements 215 AU-C 520 Analytical Procedures 223 AU-C 530 Audit Sampling 237 AU-C 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures 263 AU-C 550 Related Parties 275 AU-C 560 Subsequent Events and Subsequently Discovered Facts 287 AU-C 570 The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern 299 AU-C 580 Written Representations 315 AU-C 585 Consideration of Omitted Procedures after the Report Release Date 329 AU-C 600 Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) 335 AU-C 610 Using the Work of Internal Auditors 355 AU-C 620 Using the Work of an Auditor’s Specialist 367 AU-C 700 Forming an Opinion and Reporting on Financial Statements 377 AU-C 705 Modifications to the Opinion in the Independent Auditor’s Report 391 AU-C 706 Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor’s Report 409 AU-C 708 Consistency of Financial Statements 417 AU-C 720 Other Information in Documents Containing Audited Financial Statements 421 AU-C 725 Supplementary Information in Relation to the Financial Statements as a Whole 425 AU-C 730 Required Supplementary Information 431 AU-C 800 Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks 437 AU-C 805 Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement 447 AU-C 806 Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements 457 AU-C 810 Engagements to Report on Summary Financial Statements 465 AU-C 905 Alert That Restricts the Use of the Auditor’s Written Communication 475 AU-C 910 Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country 481 AU-C 915 Reports on Application of Requirements of an Applicable Financial Reporting Framework 487 AU-C 920 Letters for Underwriters and Certain Other Requesting Parties 493 AU-C 925 Filings with the U.S. Securities and Exchange Commission under the Securities Act of 1933 531 AU-C 930 Interim Financial Information 537 AU-C 935 Compliance Audits 565 AU-C 940 An Audit of Internal Control over Financial Reporting That is Integrated with an Audit of Financial Statements 577 AU-C 945 Auditor Involvement with Exempt Offering Documents 603 AT-C Preface 607 AT-C 105 Concepts Common to All Attestation Engagements 621 AT-C 205 Examination Engagements 627 AT-C 210 Review Engagements 649 AT-C 215 Agreed-Upon Procedures Engagements 663 AT-C 305 Prospective Financial Information 677 AT-C 310 Reporting on Pro Forma Financial Information 689 AT-C 315 Compliance Attestation 703 AT-C 320 Reporting on an Examination of Controls at a Service Organization Relevant to User Entities’ Internal Control over Financial Reporting 713 AT-C [Designated for AT Section 701 Management’s Discussion and Section 395 Analysis] (MD&A)—A Summary 729 AR-C 60 General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services 737 AR-C 70 Preparation of Financial Statements 745 AR-C 80 Compilation Engagements 753 AR-C 90 Review of Financial Statements 777 AR-C 100 Special Considerations—International Reporting Issues 815 AR-C 120 Compilation of Pro Forma Financial Information 823 Appendix A Cross-References to SASs, SSAEs, and SSARSs 829 Appendix B List of Aicpa Audit and Accounting Guides and Aicpa Statements of Position—Auditing and Attestation 831 Appendix C Other Auditing Publications 833 Index 835

About the Author :
Joanne Flood, MBA, CPA, Rockville Center, NY has accounting experience within both a Big 4 international firm and a small firm. She has worked as a senior manager in the AICPA's Professional Development group. Joanne received her MBA in Accounting Summa Cum Laude from Adelphi University.