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Wiley Practitioner's Guide to GAAS 2015: Covering all SASs, SSAEs, SSARSs, PCAOB Auditing Standards, and Interpretations

Name: Wiley Practitioner's Guide to GAAS 2015: Covering all SASs, SSAEs, SSARSs, PCAOB Auditing Standards, and Interpretations
Author: Joanne M. Flood
ISBN: 9781118978979

by Joanne M. Flood

February 2015

Intermediate to advanced

1008 pages

33h 8m

English

Wiley

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Title Page
Copyright
PREFACE
ABOUT THE AUTHOR
ORGANIZATION AND KEY CHANGES
AU-C 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Generally Accepted Auditing Standards
AU-C ORIGINAL PRONOUNCEMENTSAU-C 200 DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 200FUNDAMENTAL REQUIREMENTSMANAGEMENT RESPONSIBILITIESDEFINING PROFESSIONAL REQUIREMENTS IN STATEMENTS ON AUDITING STANDARDSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 210 Terms of Engagement
AU-C ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVESFUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATION
AU-C 220 Quality Control for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards
AU-C ORIGINAL PRONOUNCEMENTINTRODUCTIONAU 220 DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 220FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 230 Audit Documentation
AU-C ORIGINAL PRONOUNCEMENTSAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 230FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C ILLUSTRATIONS
AU-C 240 Consideration of Fraud in a Financial Statement Audit
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 240FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C ILLUSTRATIONS

AU-C 250 Consideration of Laws and Regulations in an Audit of Financial Statements
AU-C ORIGINAL PRONOUNCEMENTAU-C 250 DEFINITION OF TERMOBJECTIVES OF AU SECTION 250FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 260 The Auditor's Communication with Those Charged with Governance
AU-C ORIGINAL PRONOUNCEMENTSAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 260FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 265 Communicating Internal Control Related Matters Identified in an Audit
AU-C ORIGINAL PRONOUNCEMENTSAU-C DEFINITIONS OF TERMSOBJECTIVESFUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C 265 ILLUSTRATIONS
AU-C 300 Planning an Audit
AU-C ORIGINAL PRONOUNCEMENTOBJECTIVES OF AU-C SECTION 300FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 315FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATIONS
AU-C 320 Materiality in Planning and Performing an Audit
AU-C PRONOUNCEMENTDEFINITION OF TERMOBJECTIVE OF AU-C SECTION 320FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 330 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained
AU-C ORIGINAL PRONOUNCEMENTAU-C 330 DEFINITIONS OF TERMSOBJECTIVE OF AU-C SECTION 330FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 402 Audit Considerations Relating to an Entity Using a Service Organization
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 402FUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATION
AU-C 450 Evaluation of Misstatements Identified During the Audit
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 450FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION
AU-C 500 Audit Evidence
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVEFUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATION
AU-C 501 Audit Evidence—Specific Considerations for Selected Items
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVES OF AU SECTION 501FUNDAMENTAL REQUIREMENTS—INVESTMENTS IN SECURITIES AND DERIVATIVE INSTRUMENTSTECHNIQUES FOR APPLICATION—INVESTMENTS IN SECURITIES AND DERIVATIVE INSTRUMENTSILLUSTRATIONS—INVESTMENTS IN SECURITIES AND DERIVATIVE INSTRUMENTSFUNDAMENTAL REQUIREMENTS—INVENTORY OBSERVATIONTECHNIQUES FOR APPLICATION—INVENTORY OBSERVATIONAU-C ILLUSTRATIONS—INVENTORY OBSERVATIONFUNDAMENTAL REQUIREMENTS—LITIGATION, CLAIMS, AND ASSESSMENTS INVOLVING THE ENTITYTECHNIQUES FOR APPLICATION—LITIGATION, CLAIMS, AND ASSESSMENTSAU-C ILLUSTRATIONSFUNDAMENTAL REQUIREMENTS—SEGMENT REPORTING
AU-C 505 External Confirmations
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVE OF AU-C SECTION 505FUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATIONAU-C ILLUSTRATIONS
AU-C 510 Opening Balances—Initial Audit Engagements, Including Reaudit Engagements
AU-C ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 510FUNDAMENTAL REQUIREMENTSINTERPRETATIONSILLUSTRATIONS
AU-C 520 Analytical Procedures
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITION OF TERMOBJECTIVES OF AU-C SECTION 520FUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATIONAU-C ILLUSTRATIONS
AU-C 530 Audit Sampling
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 530FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATION: NONSAMPLINGTECHNIQUES FOR APPLICATION: NONSTATISTICAL AUDIT SAMPLINGTECHNIQUES FOR APPLICATION: STATISTICAL AUDIT SAMPLING
AU-C 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVE OF AU-C SECTION 540FUNDAMENTAL REQUIREMENTSDOCUMENTATIONAU-C INTERPRETATIONTECHNIQUES FOR APPLICATIONILLUSTRATION
AU-C 550 Related Parties
AU-C ORIGINAL PRONOUNCEMENTSDEFINITIONS OF TERMSOBJECTIVES OF AU SECTION 550FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATION
AU-C 560 Subsequent Events and Subsequently Discovered Facts
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 560FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATION
AU-C 570 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITION OF TERMOBJECTIVES OF AU-C SECTION 570FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATION
AU-C 580 Written Representations
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITION OF TERMOBJECTIVES OF AU-C SECTION 580FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C 580 ILLUSTRATIONS
AU-C 585 Consideration of Omitted Procedures After the Report Release Date
AU-C ORIGINAL PRONOUNCEMENTDEFINITION OF TERMOBJECTIVES OF AU SECTION 585FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATION
AU-C 600 Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)
AU-C ORIGINAL PRONOUNCEMENTSAU-C 600 DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 600FUNDAMENTAL REQUIREMENTSILLUSTRATIONS
AU-C 610 Using the Work of Internal Auditors
AU-C ORIGINAL PRONUNCEMENTAU-C PRACTICE ALERTDEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 610FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATIONS
AU-C 620 Using the Work of an Auditor's Specialist
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 620FUNDAMENTAL REQUIREMENTSAU-C INTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATIONS
AU-C 700 Forming an Opinion and Reporting on Financial Statements
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 700FUNDAMENTAL REQUIREMENTS: FORMING AN OPINONFUNDAMENTAL REQUIREMENTS: AUDITOR'S STANDARD REPORTFUNDAMENTAL REQUIREMENTS: REPORTS ON COMPARATIVE FINANCIAL STATEMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C 700 ILLUSTRATIONS (SOURCE: AU-C 700.58)
AU-C 705 Modifications to the Opinion in the Independent Auditor's Report
AU-C ORIGINAL PRONOUNCEMENTSAU-C DEFINITIONS OF TERMSOBJECTIVE OF AU-C SECTION 705FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C 705 ILLUSTRATIONS (SOURCE: AU-C 705.A32)
AU-C 706 Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 706.04FUNDAMENTAL REQUIREMENTSINTERPRETATIONSAU-C 706 ILLUSTRATIONS
AU-C 708 Consistency of Financial Statements
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITION OF TERMOBJECTIVES OF AU-C SECTION 708FUNDAMENTAL REQUIREMENTS
AU-C 720 Other Information in Documents Containing Audited Financial Statements
AU-C ORIGINAL PRONOUNCEMENTSAU-C EFFECTIVE DATE AND SUMMARY OF CHANGESAU-C DEFINITIONS OF TERMSOBJECTIVE OF AU-C SECTION 720FUNDAMENTAL REQUIREMENTSINTERPRETATIONSILLUSTRATION
AU-C 725 Supplementary Information in Relation to Financial Statements as a Whole
AU-C ORIGINAL PRONOUNCEMENTSAU-C DEFINITION OF TERMOBJECTIVE OF AU-C SECTION 725FUNDAMENTAL REQUIREMENTSAU-C 725 ILLUSTRATIONS
AU-C 730 Required Supplementary Information
AU-C ORIGINIAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 730FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C 730 ILLUSTRATIONS
AU-C 800 Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks
AU-C EFFECTIVE DATE AND APPLICABILITYAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 800SCOPEFUNDAMENTAL REQUIREMENTSAU-C 800 ILLUSTRATIONS (SOURCE: AU-C 800.A36)
AU-C 805 Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 805SCOPEFUNDAMENTAL REQUIREMENTSILLUSTRATIONS OF Auditor's REPORTS ON A SINGLE FINANCIAL STATEMENT AND A SPECIFIC ELEMENT OF A FINANCIAL STATEMENT (SOURCE: AU-C 805.25)
AU-C 806 Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements
AU-C ORIGINAL PRONOUNCEMENTSAU-C DEFINITIONS OF TERMSOBJECTIVE OF AU-C SECTION 806SCOPEFUNDAMENTAL REQUIREMENTSAU-C 806 ILLUSTRATIONS (SOURCE AU-C 806.A8)
AU-C 810 Engagements to Report on Summary Financial Statements
AU-C ORIGINAL PRONOUNCEMENTDEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 810SCOPEFUNDAMENTAL REQUIREMENTSINTERPRETATIONSAU-C 810 ILLUSTRATIONS (SOURCE: AU-C 810.A22)
AU-C 905 Alert That Restricts the Use of the Auditor's Written Communication
AU-C ORIGINAL PRONUNCEMENTAU-C DEFINITION OF TERMOBJECTIVES OF AU-C SECTION 905FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C 905 ILLUSTRATIONS
AU-C 910 Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 910SCOPEFUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATIONAU-C 910 ILLUSTRATIONS (SOURCE 910.A11)
AU-C 915 Reports on Application of Requirements of an Applicable Financial Reporting Framework
AU-C ORIGINAL PRONOUNCEMENTSAPPLICABILITYAU-C DEFINITIONS OF TERMSOBJECTIVE OF AU-C SECTION 915FUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATIONAU-C 915 ILLUSTRATION (SOURCE 915.A8)
AU-C 920 Letters for Underwriters and Certain Other Requesting Parties
AU-C ORIGINAL PRONOUNCEMENTSAPPLICABILITYAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 920SCOPEFUNDAMENTAL REQUIREMENTS: GENERALFUNDAMENTAL REQUIREMENTS: FORMAT AND CONTENTS OF COMFORT LETTERSFUNDAMENTAL REQUIREMENTS: COMMENTING IN A COMFORT LETTER ON INFORMATION OTHER THAN AUDITED FINANCIAL STATEMENTSFUNDAMENTAL REQUIREMENTS: OTHER MATTERSTECHNIQUES FOR APPLICATIONAU-C 920 ILLUSTRATIONS
AU-C 925 Filings with the US Securities and Exchange Commission Under the Securities Act of 1933
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 925FUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATIONAU-C 925 ILLUSTRATION
AU-C 930 Interim Financial Information
AU-C ORIGINAL PRONOUNCEMENTAU-C DEFINITION OF TERMOBJECTIVE OF AU-C SECTION 930SCOPEFUNDAMENTAL REQUIREMENTS: REVIEW PROCEDURESFUNDAMENTAL REQUIREMENTS: COMMUNICATION WITH MANAGEMENT AND THOSE CHARGED WITH GOVERNANCEFUNDAMENTAL REQUIREMENTS: AUDITOR'S REPORTFUNDAMENTAL REQUIREMENTS: INTERIM FINANCIAL INFORMATION ACCOMPANYING AUDITED FINANCIAL STATEMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C 930 ILLUSTRATIONS
AU-C 935 Compliance Audits
AU-C ORIGINAL PRONOUNCEMENTSAU-C 935 DEFINITIONS OF TERMSOBJECTIVES OF AU-C SECTION 935SCOPEFUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONAU-C ILLUSTRATIONS
AT 20 Defining Professional Requirements in Statements on Standards for Attest Engagements
ORIGINAL PRONOUNCEMENTDEFINING PROFESSIONAL REQUIREMENTS IN STATEMENTS ON STANDARDS FOR ATTESTATION ENGAGEMENTS
AT 50 SSAE Hierarchy
ORIGINAL PRONOUNCEMENTATTESTATION STANDARDSATTESTATION INTERPRETATIONSOTHER ATTESTATION PUBLICATIONS
AT 101 Attest Engagements
ORIGINAL PRONOUNCEMENTSAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF SECTION 101FUNDAMENTAL REQUIREMENTSINTERPRETATIONSILLUSTRATIONS: EXAMINATION REPORTSILLUSTRATIONS: REVIEW REPORTS
AT 201 Agreed-Upon Procedures Engagements
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AT SECTION 201FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATIONS
AT 301 Financial Forecasts and Projections
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AT SECTION 301FUNDAMENTAL REQUIREMENTS: GENERALFUNDAMENTAL REQUIREMENTS: COMPILATION OF PROSPECTIVE FINANCIAL STATEMENTSFUNDAMENTAL REQUIREMENTS: EXAMINATION OF PROSPECTIVE FINANCIAL STATEMENTSFUNDAMENTAL REQUIREMENTS: APPLYING AGREED-UPON PROCEDURES TO PROSPECTIVE FINANCIAL STATEMENTS (SEE ALSO AT SECTION 201)FUNDAMENTAL REQUIREMENTS: OTHERINTERPRETATIONSILLUSTRATIONSAPPENDICES
AT 401 Reporting on Pro Forma Financial Information
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITION OF TERMOBJECTIVES OF AT SECTION 401FUNDAMENTAL REQUIREMENTSINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATIONS
AT 501 An Examination of an Entity's Internal Control Over Financial Reporting That Is Integrated with an Audit of Its Financial Statements
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AT SECTION 501FUNDAMENTAL REQUIREMENTSREPORTING REQUIREMENTSINTERPRETATIONSILLUSTRATIONS
AT 601 Compliance Attestation
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AT SECTION 601FUNDAMENTAL REQUIREMENTS: GENERAL (APPLICABLE TO BOTH AGREED-UPON PROCEDURES AND EXAMINATION ENGAGEMENTS)FUNDAMENTAL REQUIREMENTS: AGREED-UPON PROCEDURES ENGAGEMENTFUNDAMENTAL REQUIREMENTS: EXAMINATION ENGAGEMENTINTERPRETATIONSTECHNIQUES FOR APPLICATIONILLUSTRATIONS
AT 701 Management's Discussion and Analysis (MD&A)—A Summary
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITION OF TERMOBJECTIVES OF AT SECTION 701FUNDAMENTAL REQUIREMENTS: EXAMINATIONFUNDAMENTAL REQUIREMENTS: REVIEWINTERPRETATIONSILLUSTRATIONS
AT 801 Reporting on Controls at a Service Organization
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AT SECTION 801FUNDAMENTAL REQUIREMENTSILLUSTRATIONS
AR 60–90 Compilation and Review of Financial Statements
ORIGINAL PRONOUNCEMENTSDEFINITIONS OF TERMSOBJECTIVES AND LIMITATIONS OF COMPILATION AND REVIEW ENGAGEMENTSFUNDAMENTAL REQUIREMENTSINTERPRETATIONSAccountant's Compilation ReportIndependent Accountant's Review ReportAccountant's Compilation ReportIndependent Accountant's Review ReportThe Required Supplementary Information Is Included and the Accountant Did Not Compile the Required Supplementary InformationThe Required Supplementary Information Is Included, the Accountant Compiled the Required Supplemental Information and No Material Departures from the Prescribed Guidelines Regarding the Required Supplementary Information Have Been IdentifiedAll Required Supplementary Information OmittedSome Required Supplementary Information Is Omitted and Some Is Presented in Accordance with the Prescribed Guidelines Regarding the Required Supplementary InformationMaterial Departures from the Prescribed Guidelines Regarding the Required Supplementary Information Were Identified While Compiling the Required Supplementary InformationThe Required Supplementary Information Is IncludedAll Required Supplementary Information OmittedSome Required Supplementary Information Is Omitted and Some Is Presented in Accordance with the Prescribed Guidelines Regarding the Required Supplementary InformationILLUSTRATIONS: TRADITIONAL COMPILATION ENGAGEMENTILLUSTRATIONS: REVIEW ENGAGEMENT
AR 110 Compilation of Specified Elements, Accounts, or Items of a Financial Statement
ORIGINAL PRONOUNCEMENTAPPLICABILITYOBJECTIVES OF AR SECTION 110FUNDAMENTAL REQUIREMENTSILLUSTRATIONS
AR 120 Compilation of Pro Forma Financial Information
ORIGINAL PRONOUNCEMENTSAPPLICABILITYOBJECTIVES OF AR SECTION 120FUNDAMENTAL REQUIREMENTSILLUSTRATIONS
AR 200 Reporting on Comparative Financial Statements
ORIGINAL PRONOUNCEMENTSAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AR SECTION 200FUNDAMENTAL REQUIREMENTSINTERPRETATIONILLUSTRATIONS
AR 300 Compilation Reports on Financial Statements Included in Certain Prescribed Forms
ORIGINAL PRONOUNCEMENTSAPPLICABILITYDEFINITION OF TERMOBJECTIVES OF AR SECTION 300FUNDAMENTAL REQUIREMENTSINTERPRETATIONSILLUSTRATIONS
AR 400 Communications between Predecessor and Successor Accountants
ORIGINAL PRONOUNCEMENTSAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AR SECTION 400FUNDAMENTAL REQUIREMENTSINTERPRETATIONILLUSTRATION
AR 600 Reporting on Personal Financial Statements Included in Written Personal Financial Plans
ORIGINAL PRONOUNCEMENTAPPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF AR SECTION 600FUNDAMENTAL REQUIREMENTSINTERPRETATIONILLUSTRATION
PCAOB 1 References in Auditors' Reports to the Standards of the Public Company Accounting Oversight Board
APPLICABILITYDEFINITION OF TERMFUNDAMENTAL REQUIREMENTSOTHER PCAOB GUIDANCEINTERPRETATION: COMMISSION GUIDANCE REGARDING THE PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD'S AUDITING AND RELATED PROFESSIONAL PRACTICE STANDARD NO. 1ILLUSTRATIONS
PCAOB 3 Audit Documentation
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 3FUNDAMENTAL REQUIREMENTS
PCAOB 4 Reporting on Whether a Previously Reported Material Weakness Continues to Exist
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 4FUNDAMENTAL REQUIREMENTSTECHNIQUES FOR APPLICATIONILLUSTRATIONS
PCAOB 5 An Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 5FUNDAMENTAL REQUIREMENTSILLUSTRATIONS
PCAOB 6 Evaluating Consistency of Financial Statements
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 6FUNDAMENTAL REQUIREMENTS
PCAOB 7 Engagement Quality Review
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 7FUNDAMENTAL REQUIREMENTS
PCAOB 8 Audit Risk
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 8FUNDAMENTAL REQUIREMENTS
PCAOB 9 Audit Planning
APPLICABILITYDEFINITION OF TERMOBJECTIVES OF PCAOB STANDARD 9FUNDAMENTAL REQUIREMENTS
PCAOB 10 Supervision of the Audit Engagement
APPLICABILITYOBJECTIVES OF PCAOB STANDARD 10FUNDAMENTAL REQUIREMENTS
PCAOB 11 Consideration of Materiality in Planning and Performing an Audit
APPLICABILITYOBJECTIVES OF PCAOB STANDARD 11FUNDAMENTAL REQUIREMENTS
PCAOB 12 Identifying and Assessing Risks of Material Misstatement
APPLICABILIYDEFINITION OF TERMOBJECTIVES OF PCAOB STANDARD 12FUNDAMENTAL REQUIREMENTS
PCAOB 13 The Auditor's Responses to the Risks of Material Misstatement
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 13FUNDAMENTAL REQUIREMENTS
PCAOB 14 Evaluating Audit Results
APPLICABILITYOBJECTIVES OF PCAOB STANDARD 14FUNDAMENTAL REQUIREMENTS
PCAOB 15 Audit Evidence
APPLICABILITYDEFINITIONS OF TERMSOBJECTIVES OF PCAOB STANDARD 15FUNDAMENTAL REQUIREMENTS
PCAOB 16 Communicating with Audit Committees
APPLICABILITYOVERVIEWDEFINITIONSOBJECTIVES OF PCAOB STANDARD 16FUNDAMENTAL REQUIREMENTS
PCAOB 17 Auditing Supplemental Information Accompanying Audited Financial Statements
APPLICABILITYTECHNICAL ALERTDEFINITION OF TERMOBJECTIVE OF PCAOB STANDARD 16FUNDAMENTAL REQUIREMENTS
APPENDIX A: —AU SECTIONS MAPPED TO THE CLARIFIED AU-C SECTIONS
APPENDIX B: CROSS-REFERENCES TO SASS, SSAES, AND SSARSS
APPENDIX C: LIST OF AICPA AUDIT AND ACCOUNTING GUIDES
APPENDIX D: OTHER AUDITING PUBLICATIONS IN THE GAAS HIERARCHY
Index
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Content preview from Wiley Practitioner's Guide to GAAS 2015: Covering all SASs, SSAEs, SSARSs, PCAOB Auditing Standards, and Interpretations

PCAOB 14 Evaluating Audit Results¹

APPLICABILITY

This standard applies to planning of all audits.

OBJECTIVES OF PCAOB STANDARD 14

Public Company Accounting Oversight Board (PCAOB) Auditing Standard 14 sets the objective of evaluating the results of the audit to determine whether the evidence obtained is sufficient and appropriate to support the opinion to be expressed in the auditor's report.

FUNDAMENTAL REQUIREMENTS

Evaluating the Results of the Audit of Financial Statements

When forming an opinion about whether financial statements are presented fairly in all material respects, the auditor should consider all relevant audit evidence, whether or not it appears to corroborate or contradict the assertions in the financial statements. This evaluation should include:

The results of those analytical procedures performed in the review of the financial statements
Misstatements accumulated during the audit (especially uncorrected ones)
Qualitative aspects of the company's accounting practices
Conditions identified during the audit relating to the assessment of risk of material misstatement due to fraud
The presentation of the financial statements, including disclosures
The sufficiency and appropriateness of audit evidence obtained

Performing Analytical Procedures in the Overall Review

The auditor should read the financial statements and disclosures as part of an overall review and perform analytical procedures to evaluate his or her conclusions regarding significant accounts ...

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