April 2018
Beginner to intermediate
880 pages
28h 54m
English
| Source | Statement on Auditing Standards (SAS) No. 133. |
In July 2017, the ASB issued SAS No. 133, Auditor Involvement With Exempt Offering Documents, and codified the guidance in AU-C 945. Legislation has expanded exempt offerings, and the ASB recognized the need for more guidance regarding auditor's responsibility in this area. Exempt offerings include:
Other examples include crowdfunding, small issues of securities, and franchise offerings. The SAS is effective for exempt offering documents with which the auditor is involved that are initially distributed, circulated, or submitted on or after June 15, 2018.
Source: AU-C 945.05