Wiley Practitioner's Guide to GAAS 2013: Covering all SASs, SSAEs, SSARSs, and Interpretations

APPENDIX A: ASB CLARITY PROJECT EXTANT AU SECTIONS MAPPED TO THE CLARIFIED AU-C SECTIONS

The following table maps the extant AU sections to the clarified AU-C sections. As a result of the ASB Clarity Project, all existing AU sections have been modified. In some cases, individual AU sections have been revised into individual clarified standards. In other cases, some AU sections have been grouped together and revised as one or more clarified standards. In addition, the ASB has revised the AU section number order established by SAS No. 1 to follow the ISA number order for all clarified AU sections for which there are comparable ISAs.

The following table also includes the type of change in the requirements from the ASB Clarity Project. The Project was not intended to create additional requirements; however, some revisions have resulted in substantive changes that require auditors to make adjustments in their practices as a result of the project. To assist auditors in the transition process, the AU-C sections have been organized into four types of changes, including the following:

• Substantive Changes
• Primarily Clarifying Changes
• Primarily Formatting Changes
• Standards Not Yet Issued in the Clarity Project

Substantive Changes

Substantive changes are considered likely to affect the firms’ audit methodology and engagements because they contain substantive or other changes, defined as having one or both of the following characteristics:

• Change(s) to an audit methodology that may require ...