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

PCAOB 1: References in Auditors’ Reports to the Standards of the Public Company Accounting Oversight Board

IMPORTANT NOTE: The guidance in this section applies to the preparation and issuance of audit reports for all issuers as defined by the Sarbanes–Oxley Act.

EFFECTIVE DATE AND APPLICABILITY

Effective Date	This standard currently is effective.
Applicability	Auditors’ reports on audits and other engagements relating to public companies and other issuers.

DEFINITIONS OF TERMS

Auditor. As used in the standard, the term refers to both public accounting firms registered with the Public Company Accounting Oversight Board (PCAOB) and associated persons.

FUNDAMENTAL REQUIREMENTS

When an engagement is performed in accordance with the standards of the PCAOB, and the auditor is required by the interim standards to refer in a report to generally accepted auditing standards, US generally accepted auditing standards (GAAP), auditing standards generally accepted in the United States of America, or standards established by the American Institute of Certified Public Accountants (AICPA), the auditor must instead refer to “the standards of the Public Company Accounting Oversight Board (United States).”

Auditors must also include the city and state from which the report is issued. (Non-US auditors are required to include the city and country.)

OTHER PCAOB GUIDANCE

In addition to the PCAOB standards and interpretations discussed in this volume, practitioners should be aware of the following ...