|Original Pronouncement||Statements on Auditing Standards (SAS) 70, 78, 88, and 98.|
|Effective Date||These statements currently are effective.|
|Applicability||Practitioners auditing financial statements of an entity that uses a service organization, such as a data processing service center, a bank trust department, or a mortgage banker servicing mortgages for others.Practitioners issuing service auditor reports.|
SAS No. 122, Codification of Auditing Standards and Procedures, is effective for audits of financial statements with periods ending on or after December 15, 2012.
Statements on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization, supersedes the guidance for service auditors in this AU section for service auditors’ reports for periods ending on or after June 15, 2011. Earlier implementation of SSAE No. 16 is permitted. The guidance for user auditors in this section remains in effect until the clarified SAS Audit Considerations Relating to an Entity Using a Service Organization (AUC-402) becomes effective and supersedes the guidance for user auditors in this AU section.
AU-C 402 contains guidance only for user auditors. Guidance for service auditors is contained in SSAE No. 16 (AT Section 901).