Codification of statements on auditing standards numbers 122 to 133, january 2018

Codification of
Statements on
Auditing Standards
Numbers 122 to 133
As of January 2018

1802-258


Copyright © 2018 by
American Institute of Certified Public Accountants. All rights reserved.
Reprinted from
AICPA Professional Standards
U.S. Auditing Standards—AICPA (Clarified)
(as of January 2018)
For information about the procedure for requesting permission to make copies of
any part of this work, please e-mail with your request.
Otherwise, requests should be written and mailed to Permissions Department, 220
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ISBN 978-1-94549-894-7
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iii

PREFACE
This publication, issued by the Auditing Standards Board (ASB), is a codification of Statements on Auditing Standards (SASs) and the related auditing
interpretations applicable to the preparation and issuance of audit reports for

all nonissuers. Nonissuers are any entity not subject to the Sarbanes-Oxley Act
of 2002 or the rules of the SEC. This publication contains the clarified codified
auditing standards through SAS No. 133, Auditor Involvement With Exempt
Offering Documents.
SASs are issued by the ASB, the technical body of the AICPA designated to
issue pronouncements on auditing matters applicable to the preparation and issuance of audit reports for entities that are nonissuers. The "Compliance With
Standards Rule" (ET sec. 1.310.001) of the AICPA Code of Professional Conduct requires an AICPA member who performs an audit (the auditor) of the
financial statements of a nonissuer to comply with standards promulgated by
the ASB. An auditor is required to comply with an unconditional requirement
in all cases in which the circumstances exist to which the unconditional requirement applies. An auditor is also required to comply with a presumptively
mandatory requirement in all cases in which the circumstances exist to which
the presumptively mandatory requirement applies; however, in rare circumstances, an auditor may depart from a presumptively mandatory requirement
provided the auditor documents his or her justification for the departure and
how the alternative procedures performed in the circumstances were sufficient
to achieve the objectives of the presumptively mandatory requirement.
Auditing interpretations of SASs are interpretive publications pursuant to
AU-C section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards.
Interpretive publications are recommendations on the application of SASs in
specific circumstances, including engagements for entities in specialized industries. Interpretive publications are issued under the authority of the ASB. An
auditor should consider applicable interpretations in planning and performing
an audit.
AUDITING STANDARDS BOARD
Michael J. Santay, Chair
Charles E. Landes, Vice President—
Professional Standards and Services

©2018, AICPA


v

What’s New in This Edition

WHAT’S NEW IN THIS EDITION
STANDARDS RECENTLY ISSUED
Statement
Statement on
Auditing
Standards
(SAS) No. 133

Title
Auditor Involvement With
Exempt Offering Documents

Issue Date
June 2017

Section
AU-C 945

ADDITIONAL CHANGES
Section
Applicability of
AICPA Professional
Standards
AU-C Forward

AU-C Glossary

AU-C 200

AU-C 402

AU-C 501

AU-C 510

AU-C 560
AU-C 580
AU-C 610
AU-C 700

AU-C 706

©2018, AICPA

Change
Revisions to better reflect the AICPA Council
Resolution designating the PCAOB to promulgate
technical standards.
Revisions to better reflect the AICPA Council
Resolution designating the PCAOB to promulgate
technical standards.
Revisions to better reflect the AICPA Council
Resolution designating the PCAOB to promulgate
technical standards.
Revisions to better reflect the AICPA Council
Resolution designating the PCAOB to promulgate
technical standards.

Revisions to reflect conforming changes necessary
due to the issuance of Statement on Standards for
Attestation Engagements (SSAE) No. 18, Attestation
Standards: Clarification and Recodification.
Revisions to better reflect the AICPA Council
Resolution designating the PCAOB to promulgate
technical standards.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 131, Amendment to
Statement on Auditing Standards No. 122 Section
700, Forming an Opinion and Reporting on
Financial Statements.
Revisions to reflect conforming changes necessary
due to the issuance of SAS Nos. 131 and 133.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 131.
Revisions to reflect conforming changes necessary
due to the issuance of recent authoritative guidance.
Revisions to better reflect the AICPA Council
Resolution designating the PCAOB to promulgate
technical standards.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 131.


vi

What’s New in This Edition
Section
AU-C 725

AU-C 9725
AU-C 805
AU-C 9805
AU-C 806
AU-C 810
AU-C 920

AU-C 925
AU-C 930
AU-C 935
AU-C 940
AU-C Appendix A

AU-C Appendix B

Change
Revisions to reflect conforming changes necessary
due to the issuance of SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 131.
Revisions to reflect conforming changes necessary
due to the issuance of SSAE No. 18 and Statement

on Standards for Accounting and Review Services
No. 22, Compilation of Pro Forma Financial
Information, and No. 23, Omnibus Statement on
Standards for Accounting and Review
Services—2016.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 133 and SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 131 and SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 131 and SSAE No. 18.
Revisions to reflect conforming changes necessary
due to the issuance of SSAE No. 18.
Revisions to better reflect the AICPA Council
Resolution designating the PCAOB to promulgate
technical standards.
Revisions to reflect conforming changes necessary
due to the issuance of SAS No. 130, An Audit of
Internal Control Over Financial Reporting That Is
Integrated With an Audit of Financial Statements,
SAS No. 132, and SSAE No. 18; revisions to better
reflect the AICPA Council Resolution designating
the PCAOB to promulgate technical standards.

©2018, AICPA


Table of Contents

vii

TABLE OF CONTENTS
Section
…
…

…
…

Page

How This Publication Is Organized . . . . . . . . . . . . . . . . . . . . . . . . . .
Applicability of AICPA Professional Standards . . . . . . . . . . . . . . .

1
3

U.S. AUDITING STANDARDS—AICPA (Clarified) [AU-C]
AU-C Cross-References to SASs . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
AU-C Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9
23

Foreword
Preface—Principles Underlying an Audit Conducted
in Accordance With Generally Accepted Auditing
Standards
Glossary of Terms
AU-C 200—299 General Principles and Responsibilities . . . . . . . . . . . . . . . .

200—Overall Objectives of the Independent Auditor and the
Conduct of an Audit in Accordance With Generally
Accepted Auditing Standards
210—Terms of Engagement
220—Quality Control for an Engagement Conducted in
Accordance With Generally Accepted Auditing
Standards
230—Audit Documentation
9230—Audit Documentation: Auditing Interpretations of
Section 230
240—Consideration of Fraud in a Financial Statement Audit
250—Consideration of Laws and Regulations in an Audit of
Financial Statements
260—The Auditor’s Communication With Those Charged
With Governance
265—Communicating Internal Control Related Matters
Identified in an Audit
9265—Communicating Internal Control Related Matters
Identified in an Audit: Auditing Interpretations of
Section 265

63

247
AU-C 300—499 Risk Assessment and Response to Assessed Risks . . . . . . .
300—Planning an Audit
315—Understanding the Entity and Its Environment and
Assessing the Risks of Material Misstatement
320—Materiality in Planning and Performing an Audit
330—Performing Audit Procedures in Response to Assessed Risks

and Evaluating the Audit Evidence Obtained
402—Audit Considerations Relating to an Entity Using a
Service Organization
450—Evaluation of Misstatements Identified During the Audit
©2018, AICPA

Contents


viii

Table of Contents

Section

Page

AU-C 500—599 Audit Evidence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
500—Audit Evidence
9500—Audit Evidence: Auditing Interpretations of
Section 500
501—Audit Evidence—Specific Considerations for
Selected Items
505—External Confirmations
510—Opening Balances—Initial Audit Engagements,
Including Reaudit Engagements
520—Analytical Procedures
530—Audit Sampling
540—Auditing Accounting Estimates, Including Fair Value
Accounting Estimates, and Related Disclosures

550—Related Parties
560—Subsequent Events and Subsequently Discovered Facts
570—The Auditor’s Consideration of an Entity’s Ability to
Continue as a Going Concern
570A—The Auditor’s Consideration of an Entity’s Ability to
Continue as a Going Concern
9570A—The Auditor’s Consideration of an Entity’s Ability to
Continue as a Going Concern: Auditing Interpretations
of Section 570A
580—Written Representations
585—Consideration of Omitted Procedures After the Report
Release Date

377

AU-C 600—699 Using the Work of Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
600—Special Considerations—Audits of Group Financial
Statements (Including the Work of Component
Auditors)
9600—Special Considerations—Audits of Group Financial
Statements (Including theWork of Component Auditors):
Auditing Interpretations of Section 600
610—Using the Work of Internal Auditors
620—Using the Work of an Auditor’s Specialist
9620—Using the Work of an Auditor’s Specialist: Auditing
Interpretations of Section 620

653

AU-C 700—799 Audit Conclusions and Reporting . . . . . . . . . . . . . . . . . . . . . .

700—Forming an Opinion and Reporting on Financial
Statements
9700—Forming an Opinion and Reporting on Financial
Statements: Auditing Interpretations of Section 700
705—Modifications to the Opinion in the Independent
Auditor’s Report
706—Emphasis-of-Matter Paragraphs and Other-Matter
Paragraphs in the Independent Auditor’s Report
708—Consistency of Financial Statements
720—Other Information in Documents Containing Audited
Financial Statements

767

Contents

©2018, AICPA


ix

Table of Contents
Section

Page

AU-C 700—799 Audit Conclusions and Reporting—continued
725—Supplementary Information in Relation to the Financial
Statements as a Whole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9725—Supplementary Information in Relation to the Financial

Statements as a Whole: Auditing Interpretations of
Section 725 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
730—Required Supplementary Information . . . . . . . . . . . . . . . . . . . . . . .
AU-C 800—899 Special Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
800—Special Considerations—Audits of Financial Statements
Prepared in Accordance With Special Purpose
Frameworks
805—Special Considerations—Audits of Single Financial
Statements and Specific Elements, Accounts, or Items
of a Financial Statement
9805—Special Considerations—Audits of Single Financial
Statements and Specific Elements, Accounts, or Items
of a Financial Statement: Auditing Interpretations of
Section 805
806—Reporting on Compliance With Aspects of Contractual
Agreements or Regulatory Requirements in Connection
With Audited Financial Statements
810—Engagements to Report on Summary Financial
Statements

923

AU-C 900—999 Special Considerations in the United States . . . . . . . . . . . .
905—Alert That Restricts the Use of the Auditor’s Written
Communication
910—Financial Statements Prepared in Accordance With
a Financial Reporting Framework Generally Accepted
in Another Country
915—Reports on Application of Requirements of an
Applicable Financial Reporting Framework

920—Letters for Underwriters and Certain Other Requesting
Parties
925—Filings With the U.S. Securities and Exchange
Commission Under the Securities Act of 1933
930—Interim Financial Information
935—Compliance Audits
940—An Audit of Internal Control Over Financial Reporting
That Is Integrated With an Audit of Financial Statements
945—Auditor Involvement With Exempt Offering Documents

1025

AU-C . . . Appendixes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1287

AU-C . . . Topical Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1347

©2018, AICPA

Contents


How This Publication Is Organized

HOW THIS PUBLICATION IS ORGANIZED
This publication is organized into two main sections.
The first section, "Applicability of AICPA Professional Standards," provides

guidance about standards applicable to entities as defined by the SarbanesOxley Act of 2002, as amended, and standards applicable to nonissuers and
standards applicable to issuers.1
The next section, "U.S. Auditing Standards—AICPA (Clarified) [AU-C],"
contains the clarified codified auditing standards and the related auditing
interpretations.

Codification of Statements on Auditing Standards
By AICPA
Copyright © 2018 by American Institute of Certified Public Accountants.

These sections are described in more detail in the following sections.

U.S. Auditing Standards—AICPA (Clarified) [AU-C]
The AU-C sections comprise Statement on Auditing Standards (SAS) Nos. 122–
133 and auditing interpretations. Superseded portions have been deleted, and
all applicable amendments have been included. Refer to individual AU-C sections for specific effective dates. The AU-C sections are arranged as follows:
AU-C Cross-References to SASs
Introduction
General Principles and Responsibilities
Risk Assessment and Response to Assessed Risks
Audit Evidence
Using the Work of Others
Audit Conclusions and Reporting
Special Considerations
Special Considerations in the United States
Appendixes
Topical Index
The AU-C Cross-References to SASs is a list of SASs issued since SAS No.
122 and a list of sources of sections in the current text.
The standards are divided into sections, each with its own section number.

Each paragraph within a section is decimally numbered.
Auditing interpretations are numbered in the 9000 series with the last three
digits indicating the section to which the interpretation relates. Interpretations
immediately follow their corresponding section. For example, an interpretation
related to section 230 is numbered 9230, which directly follows section 230.
There are five appendixes relating to auditing standards as follows:
Appendix A provides the historical background for the SASs.
Appendix B highlights substantive differences between International Standards on Auditing and Generally Accepted Auditing Standards.
Appendix C is reserved.

1

See the definition of the term nonissuer in the AU-C Glossary.

©2018, AICPA

1


2

How This Publication Is Organized
Appendix D lists AICPA Audit and Accounting Guides and Statements of Position.
Appendix E provides a schedule of changes that lists changes that
are the result of SASs issued after SAS No. 122.
Appendix F provides a list of other auditing publications published by
the AICPA that have been reviewed by the AICPA Audit and Attest
Standards staff.
The AU-C topical index uses the keyword method to facilitate reference to
the pronouncements. The index is arranged alphabetically by topic and refers

the reader to major divisions, sections, and paragraph numbers.

©2018, AICPA


3

Table of Contents

APPLICABILITY OF AICPA PROFESSIONAL
STANDARDS
TABLE OF CONTENTS
Page
Part I

Applicability of AICPA Professional Standards to Audits of Financial
Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

©2018, AICPA

5

Contents


Applicability of AICPA Professional Standards

Part I

Applicability of AICPA Professional Standards

to Audits of Financial Statements
Who Is a Nonissuer?
Appendix A, "Council Resolution Designating Bodies to Promulgate Technical
Standards," of the AICPA Code of Professional Conduct recognizes both the
Auditing Standards Board (ASB) and the PCAOB as standard setting bodies
designated to promulgate auditing, attestation, and quality control standards.
Paragraph .01 of the "Compliance With Standards Rule" (ET sec. 1.310.001 and
2.310.001) requires an AICPA member who performs an audit to comply with
the applicable standards.
Audits of the financial statements of those entities subject to the oversight authority of the PCAOB (that is, those audit reports within the PCAOB's jurisdiction as defined by the Sarbanes-Oxley Act of 2002, as amended), are to be
conducted in accordance with standards established by the PCAOB, a private
sector, nonprofit corporation created by the Sarbanes-Oxley Act of 2002. The
SEC has oversight authority over the PCAOB, including the approval of its
rules, standards, and budget.
Audits of the financial statements of those entities not subject to the oversight
authority of the PCAOB (that is, those audit reports not within the PCAOB's
jurisdiction as defined by the Act, as amended—hereinafter referred to as nonissuers 1 ) are to be conducted in accordance with generally accepted auditing
standards (GAAS) as issued by the ASB, a senior committee of the AICPA.

Standards Applicable to the Audits of Entities as
Defined by the Act, as Amended
Rule 3100, Compliance with Auditing and Related Professional Practice Standards (AICPA, PCAOB Standards and Related Rules), issued by the PCAOB,
generally requires all registered public accounting firms to adhere to the
PCAOB's standards in connection with the preparation or issuance of any audit report on the financial statements of an entity as defined by the Act, as
amended. Rule 3100 requires registered public accounting firms and their associated persons to comply with all applicable standards. Accordingly, if the
PCAOB's standards do not apply to an engagement or other activity of the firm,
Rule 3100, by its own terms, does not apply to that engagement or activity.
Rule 3101, Certain Terms Used in Auditing and Related Professional Practice Standards (AICPA, PCAOB Standards and Related Rules), issued by the
PCAOB, defines the degree of responsibility imposed on the auditor by the use of
certain terms in the PCAOB's auditing and related professional practice standards, including the interim standards adopted in Rule 3200, Auditing Standards; Rule 3300T, Interim Attestation Standards; Rule 3400T, Interim Quality

Control Standards; and Rule 3500T, Interim Ethics and Independence Standards.
1

See the definition of the term nonissuer in the AU-C Glossary.

©2018, AICPA

5


6

Applicability of AICPA Professional Standards

Standards Applicable to the Audits of Nonissuers
The ASB is the body authorized to promulgate auditing, attestation and quality
control standards for nonissuers. The ASB develops and issues standards in
the form of Statements on Auditing Standards (SASs) through a due process
that includes deliberation in meetings open to the public, public exposure of
proposed SASs, and a formal vote.
Pursuant to AU-C section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards, professional requirements under GAAS are categorized as
either "unconditional requirements" or "presumptively mandatory requirements," each of which is identified by specific terms. Unconditional requirements are stated with "must." Presumptively mandatory requirements are
stated with "should." In the clarified auditing standards, application and explanatory guidance does not create or impose requirements; rather, it is relevant to the proper application of the requirements of an AU-C section.
As a caution to readers, pursuant to AU-C section 200, interpretive publications
are recommendations on the application of GAAS in specific circumstances, including engagements for entities in specialized industries. Interpretive publications, which include auditing interpretations, auditing guidance in AICPA
Audit and Accounting Guides, and auditing guidance found in Statements of
Position, are issued under the authority of the ASB. Although interpretive publications are not auditing standards, AU-C section 200 requires the auditor to
consider applicable interpretive publications in planning and performing the
audit because interpretive publications are relevant to the proper application
of GAAS in specific circumstances. If the auditor does not apply the auditing

guidance included in an applicable interpretive publication, the auditor should
document how the requirements of GAAS were complied with in the circumstances addressed by such auditing guidance.
Failure to follow ASB standards in the audit of a nonissuer would be considered
a violation of the "General Standards Rule" (ET sec. 1.300.001 and 2.300.001)
and the "Compliance With Standards Rule" (ET sec. 2.310.001) of the AICPA
Code of Professional Conduct, as applicable.
The ASB continues to issue SASs and interpretive publications that relate to
audits of nonissuers, and auditors should be alert to those issuances.

Audits of a Nonissuer’s Financial Statements Audited in
Accordance With Both GAAS and PCAOB Auditing
Standards
AU-C section 700, Forming an Opinion and Reporting on Financial Statements,
addresses the auditor's report for audits conducted in accordance with both
GAAS and another set of auditing standards. Paragraph .42 of AU-C section
700 explains that the auditor may indicate that the audit was conducted in
accordance with GAAS and also conducted in accordance with another set of
auditing standards (for example, the standards of the PCAOB). Paragraph .42
also states that the auditor should not refer to having conducted an audit in
accordance with another set of auditing standards in addition to GAAS, unless the audit was conducted in accordance with both sets of standards in their
entirety. Paragraph .43 of AU-C section 700 goes on to state that when the auditor's report refers to both GAAS and another set of auditing standards, the
auditor's report should identify the other set of auditing standards, as well as
their origin.

©2018, AICPA


Applicability of AICPA Professional Standards

Integrated Audit of a Nonissuer’s Financial Statements

AU-C section 940, An Audit of Internal Control Over Financial Reporting That
Is Integrated With an Audit of Financial Statements, establishes requirements
and provides guidance that applies only when an auditor is engaged to perform
an audit of internal control over financial reporting that is integrated with an
audit of financial statements (integrated audit).

AICPA Standards and the Audits of Entities as Defined
by the Act, as Amended
If a registered public accounting firm performs an audit of an entity as defined
by the Act, as amended, in accordance with PCAOB standards, the auditor does
not need to follow standards promulgated by the ASB. However, AICPA members are required to comply with the AICPA Code in addition to the ethics and
independence rules and standards required by the SEC and PCAOB.

©2018, AICPA

7


9

Table of Contents

AU-C Cross-References to SASs
TABLE OF CONTENTS
Page
AU-C Cross-References to SASs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part I—Statements on Auditing Standards and Sources of Sections
in Current Text . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part II—List of Statement on Auditing Standards Nos. 1–121 and List of
Statement on Auditing Procedure Nos. 1–54 . . . . . . . . . . . . . . . . . . .

©2018, AICPA

11
11
15

Contents


11

AU-C Cross-References to SASs

AU-C Cross-References to SASs
Part I—Statements on Auditing Standards and Sources
of Sections in Current Text
Statements on Auditing Standards *
No.
122

Date Issued
Oct. 2011

123

Oct. 2011

124

Oct. 2011

125

Dec. 2011

126

June 2012

127

Jan. 2013

128
129

Feb. 2014
July 2014

130

October
2015

131

January
2016

132

February
2017

133

July 2017

Title
Statements on Auditing Standards:
Clarification and Recodification 1
Omnibus Statement on Auditing
Standards—2011 2
Financial Statements Prepared in
Accordance With a Financial
Reporting Framework Generally
Accepted in Another Country
Alert That Restricts the Use of the
Auditor's Written Communication
The Auditor's Consideration of An
Entity's Ability to Continue as a Going
Concern (Redrafted)
Omnibus Statement on Auditing
Standards—20133
Using the Work of Internal Auditors
Amendment to Statement on Auditing
Standards No. 122 Section 920,
Letters for Underwriters and Certain
Other Requesting Parties, as Amended

An Audit of Internal Control Over
Financial Reporting That Is Integrated
With an Audit of Financial Statements
Amendment to Statement on Auditing
Standards No. 122 Section 700,
Forming an Opinion and Reporting on
Financial Statements
The Auditor's Consideration of an
Entity's Ability to Continue as a Going
Concern
Auditor Involvement With Exempt
Offering Documents

AU-C Section

910

905
570

610
920

940

700

570

945

* This table lists Statements on Auditing Standards (SASs) issued subsequent to SAS No. 122,
Statements on Auditing Standards: Clarification and Recodification, which was issued in October
2011. Refer to part II, "List of Statements on Auditing Standards Nos. 1–121 and List of Statements
on Auditing Procedure Nos. 1–54," of this section for SASs issued prior to SAS No. 122.
1 SAS No. 122 created various sections throughout U.S. Auditing Standards—AICPA (Clarified).
See the following section, "Sources of Sections in Current Text," for a full list.
2 SAS No. 123 has been integrated within sections 200.03, 200.15, 200.A17, 230.19, 260.12,
260.A27, 705.16, 705.A19, 720.10–.11, 720.A4, 915.09, 915.14, 935.30–.31, and 935.A41.
3 SAS No. 127 has been integrated within sections 600.25–.26, 600.28, 600.32, 600.50, 600.A53–
.A57, 600.A60, 600.A97, 800.01, 800.07, 800.11, 800.18, 800.20, 800.A4–.A5, 800.A8, 800.A24, and
800.A33.

©2018, AICPA


12

AU-C Cross-References to SASs

Sources of Sections in Current Text
AU-C
Section
Contents
200–299 General Principles and Responsibilities
200
Overall Objectives of the Independent Auditor
and the Conduct of an Audit in Accordance With
Generally Accepted Auditing Standards
210

Terms of Engagement
220
Quality Control for an Engagement Conducted
in Accordance With Generally Accepted Auditing
Standards
230
Audit Documentation
240
Consideration of Fraud in a Financial
Statement Audit
250
Consideration of Laws and Regulations in an
Audit of Financial Statements
260
The Auditor's Communication With Those
Charged With Governance
265
Communicating Internal Control Related
Matters Identified in an Audit
300–499 Risk Assessment and Response to Assessed
Risks
300
Planning an Audit
315
Understanding the Entity and Its Environment
and Assessing the Risks of Material Misstatement
320
Materiality in Planning and Performing an Audit
330
Performing Audit Procedures in Response to

Assessed Risks and Evaluating the Audit
Evidence Obtained
402
Audit Considerations Relating to an Entity
Using a Service Organization
450
Evaluation of Misstatements Identified During
the Audit
500–599 Audit Evidence
500
Audit Evidence
501
Audit Evidence—Specific Considerations for
Selected Items
505
External Confirmations
510
Opening Balances—Initial Audit Engagements,
Including Reaudit Engagements
520
Analytical Procedures
530
Audit Sampling
540
Auditing Accounting Estimates, Including Fair
Value Accounting Estimates, and Related
Disclosures
550
Related Parties
560

Subsequent Events and Subsequently
Discovered Facts

Source
SAS No. 122

SAS No. 122
SAS No. 122

SAS No. 122
SAS No. 122
SAS No. 122
SAS No. 122
SAS No. 122

SAS No. 122
SAS No. 122
SAS No. 122
SAS No. 122

SAS No. 122
SAS No. 122

SAS No. 122
SAS No. 122
SAS No. 122
SAS No. 122
SAS No. 122
SAS No. 122
SAS No. 122

SAS No. 122
SAS No. 122

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13

AU-C Cross-References to SASs
AU-C
Section
570

Contents
Source
The Auditor's Consideration of An Entity's Ability SAS No. 132
to Continue as a Going Concern
570A
The Auditor's Consideration of An Entity's Ability SAS No. 126
to Continue as a Going Concern
580
Written Representations
SAS No. 122
585
Consideration of Omitted Procedures After the
SAS No. 122
Report Release Date
600–699 Using the Work of Others
600

Special Considerations—Audits of Group
SAS No. 122
Financial Statements (Including the Work of
Component Auditors)
610
Using the Work of Internal Auditors
SAS No. 128
620
Using the Work of an Auditor's Specialist
SAS No. 122
700–799 Audit Conclusions and Reporting
700
Forming an Opinion and Reporting on
SAS No. 122;
Financial Statements
SAS No. 131
705
Modifications to the Opinion in the
SAS No. 122
Independent Auditor's Report
706
Emphasis-of-Matter Paragraphs and
SAS No. 122
Other-Matter Paragraphs in the Independent
Auditor's Report
708
Consistency of Financial Statements
SAS No. 122
720
Other Information in Documents Containing

SAS No. 1184
Audited Financial Statements
725
Supplementary Information in Relation to the
SAS No. 1195
Financial Statements as a Whole
730
Required Supplementary Information
SAS No. 1206
(continued)

4 To address practice issues, SAS No. 118, Other Information in Documents Containing Audited
Financial Statements, was issued in February 2010 as a SAS resulting from the Clarification and
Convergence Project of the ASB, and became effective for audits of financial statements for periods
beginning on or after December 15, 2010. SAS No. 118 was previously codified as AU section 550 until
December 2013, when all AU sections were deleted from AICPA Professional Standards, as described
in the AU-C Foreword. SAS No. 122 redesignated AU section 550 as AU-C section 720 but did not
supersede SAS No. 118. AU-C section 720 contains conforming changes necessary due to the issuance
of SAS No. 122.
5 To address practice issues, SAS No. 119, Supplementary Information in Relation to the Financial Statements as a Whole, was issued in February 2010 as a SAS resulting from the Clarification and
Convergence Project of the ASB, and became effective for audits of financial statements for periods
beginning on or after December 15, 2010. SAS No. 119 was previously codified as AU section 551 until
December 2013, when all AU sections were deleted from AICPA Professional Standards, as described
in the AU-C Foreword. SAS No. 122 redesignated AU section 551 as AU-C section 725 but did not
supersede SAS No. 119. AU-C section 725 contains conforming changes necessary due to the issuance
of SAS No. 122.
6 To address practice issues, SAS No. 120, Required Supplementary Information, was issued in
February 2010 as a SAS resulting from the Clarification and Convergence Project of the ASB, and
became effective for audits of financial statements for periods beginning on or after December 15,
2010. SAS No. 120 was previously codified as AU section 558 until December 2013, when all AU

sections were deleted from AICPA Professional Standards, as described in the AU-C Foreword. SAS
No. 122 redesignated AU section 558 as AU-C section 730 but did not supersede SAS No. 120. AU-C
section 730 contains conforming changes necessary due to the issuance of SAS No. 122.

©2018, AICPA


14

AU-C Cross-References to SASs
AU-C
Section
Contents
800–899 Special Considerations
800
Special Considerations—Audits of Financial
Statements Prepared in Accordance With
Special Purpose Frameworks
805
Special Considerations—Audits of Single
Financial Statements and Specific Elements,
Accounts, or Items of a Financial Statement
806
Reporting on Compliance With Aspects of
Contractual Agreements or Regulatory
Requirements in Connection With Audited
Financial Statements
810
Engagements to Report on Summary Financial
Statements

900–999 Special Considerations in the United States
905
Alert That Restricts the Use of the Auditor's
Written Communication
910
Financial Statements Prepared in Accordance
With a Financial Reporting Framework
Generally Accepted in Another Country
915
Reports on Application of Requirements of an
Applicable Financial Reporting Framework
920
Letters for Underwriters and Certain Other
Requesting Parties
925
Filings With the U.S. Securities and Exchange
Commission Under the Securities Act of 1933
930
Interim Financial Information
935
Compliance Audits
940
An Audit of Internal Control Over Financial
Reporting That Is Integrated With an Audit of
Financial Statements
945
Auditor Involvement With Exempt Offering
Documents

Source

SAS No. 122

SAS No. 122

SAS No. 122

SAS No. 122

SAS No. 125
SAS No. 124

SAS No. 122
SAS No. 122;
SAS No. 129
SAS No. 122
SAS No. 122
SAS No. 1177
SAS No. 130

SAS No. 133

7 To address practice issues, SAS No. 117, Compliance Audits, was issued in December 2009 as
a SAS resulting from the Clarification and Convergence Project of the ASB, and became effective for
compliance audits for fiscal periods ending on or after June 15, 2010. SAS No. 117 was previously
codified as AU section 801 until December 2013, when all AU sections were deleted from AICPA
Professional Standards, as described in the AU-C Foreword. SAS No. 122 redesignated AU section
801 as AU-C section 935 but did not supersede SAS No. 117. AU-C section 935 contains conforming
changes necessary due to the issuance of SAS No. 122.

©2018, AICPA

15

AU-C Cross-References to SASs

Part II—List of Statement on Auditing Standards
Nos. 1–121 and List of Statement on Auditing
Procedure Nos. 1–54
Statement on Auditing Standards Nos. 1–121
No.
1

Date Issued
Nov. 1972

2
3

Oct. 1974
Dec. 1974

4

Dec. 1974

5

July 1975

6
7

July 1975
Oct. 1975

8

Dec. 1975

9

Dec. 1975

10
11
12

Dec. 1975
Dec. 1975
Jan. 1976

13

May 1976

14
15
16

Dec. 1976
Dec. 1976
Jan. 1977

17
18
19
20

Jan. 1977
May 1977
June 1977
Aug. 1977

21
22
23
24
25

Dec. 1977
Mar. 1978
Oct. 1978
Mar. 1979
Nov. 1979

26

Nov. 1979

Title
Codification of Auditing Standards and
Procedures
Reports on Audited Financial Statements
The Effects of EDP on the Auditor's Study and
Evaluation of Internal Control
Quality Control Considerations for a Firm of
Independent Auditors
The Meaning of "Present Fairly in Conformity
With Generally Accepted Accounting Principles"
in the Independent Auditor's Report
Related Party Transactions
Communications Between Predecessor and
Successor Auditors
Other Information in Documents Containing
Audited Financial Statements
The Effect of an Internal Audit Function on the
Scope of the Independent Auditor's Examination
Limited Review of Interim Financial Information
Using the Work of a Specialist
Inquiry of a Client's Lawyer Concerning
Litigation, Claims, and Assessments
Reports on a Limited Review of Interim Financial
Information
Special Reports
Reports on Comparative Financial Statements
The Independent Auditor's Responsibility for the
Detection of Errors or Irregularities
Illegal Acts by Clients
Unaudited Replacement Cost Information

Client Representations
Required Communication of Material Weaknesses
in Internal Accounting Control
Segment Information
Planning and Supervision
Analytical Review Procedures
Review of Interim Financial Information
The Relationship of Generally Accepted Auditing
Standards to Quality Control Standards
Association With Financial Statements
(continued)

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16

AU-C Cross-References to SASs
No.
27

Date Issued
Dec. 1979

28

June 1980

29

July 1980

30
31
32
33
34

July 1980
Aug. 1980
Oct. 1980
Oct. 1980
Mar. 1981

35

April 1981

36
37
38
39
40
41
42

April 1981
April 1981
April 1981
June 1981

Feb. 1982
April 1982
Sept. 1982

43
44

Aug. 1982
Dec. 1982

45

Aug. 1983

46

Sept. 1983

47
48

Dec. 1983
July 1984

49
50
51

Sept. 1984
July 1986

July 1986

52

April 1988

53

April 1988

54
55

April 1988
April 1988

56
57

April 1988
April 1988

Title
Supplementary Information Required by the
Financial Accounting Standards Board
Supplementary Information on the Effects of
Changing Prices
Reporting on Information Accompanying the
Basic Financial Statements in Auditor-Submitted
Documents

Reporting on Internal Accounting Control
Evidential Matter
Adequacy of Disclosure of Financial Statements
Supplementary Oil and Gas Reserve Information
The Auditor's Considerations When a Question
Arises About an Entity's Continued Existence
Special Reports—Applying Agreed-Upon
Procedures to Specified Elements, Accounts, or
Items of a Financial Statement
Review of Interim Financial Information
Filings Under Federal Securities Statutes
Letters for Underwriters
Audit Sampling
Supplementary Mineral Reserve Information
Working Papers
Reporting on Condensed Financial Statements
and Selected Financial Data
Omnibus Statement on Auditing Standards
Special-Purpose Reports on Internal Accounting
Control at Service Organizations
Omnibus Statement on Auditing
Standards—1983
Consideration of Omitted Procedures After the
Report Date
Audit Risk and Materiality in Conducting an Audit
The Effects of Computer Processing on the Audit
of Financial Statements
Letters for Underwriters
Reports on the Application of Accounting Principles
Reporting on Financial Statements Prepared for

Use in Other Countries
Omnibus Statement on Auditing
Standards—1987
The Auditor's Responsibility to Detect and Report
Errors and Irregularities
Illegal Acts by Clients
Consideration of Internal Control in a Financial
Statement Audit
Analytical Procedures
Auditing Accounting Estimates

©2018, AICPA


17

AU-C Cross-References to SASs
No.
58
59

Date Issued
April 1988
April 1988

60

April 1988

61

62
63

April 1988
April 1989
April 1989

64
65

Dec. 1990
April 1991

66

June 1991

67
68

Nov. 1991
Dec. 1991

69

Jan. 1992

70
71
72

April 1992
May 1992
Feb. 1993

73
74

July 1994
Feb. 1995

75

Sept. 1995

76

Sept. 1995

77

Nov. 1995

78

Dec. 1995

79

Dec. 1995

Title
Reports on Audited Financial Statements
The Auditor's Consideration of an Entity's Ability
to Continue as a Going Concern
Communication of Internal Control Related
Matters Noted in an Audit
Communication With Audit Committees
Special Reports
Compliance Auditing Applicable to Governmental
Entities and Other Recipients of Governmental
Financial Assistance
Omnibus Statement on Auditing Standards—1990
The Auditor's Consideration of the Internal Audit
Function in an Audit of Financial Statements
Communication of Matters About Interim
Financial Information Filed or to Be Filed With
Specified Regulatory Agencies—An Amendment to
SAS No. 36, Review of Interim Financial
Information
The Confirmation Process
Compliance Auditing Applicable to Governmental
Entities and Other Recipients of Governmental
Financial Assistance
The Meaning of Present Fairly in Conformity
With Generally Accepted Accounting Principles
Service Organizations
Interim Financial Information
Letters for Underwriters and Certain Other
Requesting Parties

Using the Work of a Specialist
Compliance Auditing Considerations in Audits of
Governmental Entities and Recipients of
Governmental Financial Assistance
Engagements to Apply Agreed-Upon Procedures to
Specified Elements, Accounts, or Items of a
Financial Statement
Amendments to Statement on Auditing Standards
No. 72, Letters for Underwriters and Certain
Other Requesting Parties
Amendments to Statements on Auditing
Standards No. 22, Planning and Supervision,
No. 59, The Auditor's Consideration of an Entity's
Ability to Continue as a Going Concern, and
No. 62, Special Reports
Consideration of Internal Control in a Financial
Statement Audit: An Amendment to Statement on
Auditing Standards No. 55
Amendment to Statement on Auditing Standards
No. 58, Reports on Audited Financial Statements
(continued)

©2018, AICPA


18

AU-C Cross-References to SASs
No.
80

Date Issued
Dec. 1996

81
82

Dec. 1996
Feb. 1997

83
84

Oct. 1997
Oct. 1997

85
86

Nov. 1997
Mar. 1998

87
88

Sept. 1998
Dec. 1999

89
90

91
92

Dec. 1999
Dec. 1999
Apr. 2000
Sept. 2000

93
94

Oct. 2000
May 2001

95
96
97

Dec. 2001
Jan. 2002
June 2002

98

Sept. 2002

99

Oct. 2002

100
101

Nov. 2002
Jan. 2003

102

Dec. 2005

103
104

Dec. 2005
Mar. 2006

105

Mar. 2006

106
107

Mar. 2006
Mar. 2006

Title
Amendment to Statement on Auditing Standards
No. 31, Evidential Matter
Auditing Investments

Consideration of Fraud in a Financial Statement
Audit
Establishing an Understanding With the Client
Communications Between Predecessor and
Successor Auditors
Management Representations
Amendment to Statement on Auditing Standards
No. 72, Letters for Underwriters and Certain Other
Requesting Parties
Restricting the Use of an Auditor's Report
Service Organizations and Reporting on
Consistency
Audit Adjustments
Audit Committee Communications
Federal GAAP Hierarchy
Auditing Derivative Instruments, Hedging
Activities, and Investments in Securities
Omnibus Statement on Auditing Standards—2000
The Effect of Information Technology on the
Auditor's Consideration of Internal Control in a
Financial Statement Audit
Generally Accepted Auditing Standards
Audit Documentation
Amendment to Statement on Auditing Standards
No. 50, Reports on the Application of Accounting
Principles
Omnibus Statement on Auditing
Standards—2002
Consideration of Fraud in a Financial Statement
Audit

Interim Financial Information
Auditing Fair Value Measurements and
Disclosures
Defining Professional Requirements in Statements
on Auditing Standards
Audit Documentation
Amendment to Statement on Auditing Standards
No. 1, Codification of Auditing Standards and
Procedures ("Due Professional Care in the
Performance of Work")
Amendment to Statement on Auditing Standards
No. 95, Generally Accepted Auditing Standards
Audit Evidence
Audit Risk and Materiality in Conducting an
Audit

©2018, AICPA


AU-C Cross-References to SASs
No.
108
109

Date Issued
Mar. 2006
Mar. 2006

110

Mar. 2006

111

Mar. 2006

112

May 2006

113

Nov. 2006

114

Dec. 2006

115

Sept. 2008

116
117
118

Feb. 2009
Dec. 2009
Feb. 2010

119

Feb. 2010

120
121

Feb. 2010
Feb. 2011

©2018, AICPA

Title
Planning and Supervision
Understanding the Entity and Its Environment
and Assessing the Risks of Material Misstatement
Performing Audit Procedures in Response to
Assessed Risks and Evaluating the Audit
Evidence Obtained
Amendment to Statement on Auditing Standards
No. 39, Audit Sampling
Communicating Internal Control Related Matters
Identified in an Audit
Omnibus Statement on Auditing
Standards—2006
The Auditor's Communication With Those
Charged With Governance
Communicating Internal Control Related Matters
Identified in an Audit
Interim Financial Information

Compliance Audits
Other Information in Documents Containing
Audited Financial Statements
Supplementary Information in Relation to the
Financial Statements as a Whole
Required Supplementary Information
Revised Applicability of Statement on Auditing
Standards No. 100, Interim Financial
Information

19


20

AU-C Cross-References to SASs

Statement on Auditing Procedure Nos. 1–54
No.
1
2

Date Issued
Oct. 1939
Dec. 1939

3

Feb. 1940

4

Mar. 1941

5

Feb. 1941

6

Mar. 1941

7

Mar. 1941

8

Sept. 1941

9

Dec. 1941

10
11

June 1942
Sept. 1942

12
13

Oct. 1942
Dec. 1942

14
15

Dec. 1942
Dec. 1942

16
17
18
19

Dec. 1942
Dec. 1942
Jan. 1943
Nov. 1943

20
21
22

Dec. 1943
July 1944
May 1945

23

Dec. 1949

24

Oct. 1948

25

Oct. 1954

26
27

Apr. 1956
July 1957

Title
Extensions of Auditing Procedure
The Auditor's Opinion on the Basis of a Restricted
Examination
Inventories and Receivables of Department Stores,
Installment Houses, Chain Stores, and Other
Retailers
Clients' Written Representations Regarding
Inventories, Liabilities, and Other Matters
The Revised SEC Rule on "Accountants'
Certificates"
The Revised SEC Rule on "Accountants'

Certificates"
Contingent Liability Under Policies With Mutual
Insurance Companies
Interim Financial Statements and the Auditor's
Report Thereon
Accountants' Reports on Examinations of Securities
and Similar Investments Under the Investment
Company Act
Auditing Under Wartime Conditions
The Auditor's Opinion on the Basis of a Restricted
Examination (No. 2)
Amendment to Extensions of Auditing Procedure
The Auditor's Opinion on the Basis of a Restricted
Examination (No. 3) Face-Amount Certificate
Companies
Confirmation of Public Utility Accounts Receivable
Disclosure of the Effect of Wartime Uncertainties
on Financial Statements
Case Studies on Inventories
Physical Inventories in Wartime
Confirmation of Receivables From the Government
Confirmation of Receivables (Positive and
Negative Methods)
Termination of Fixed Price Supply Contracts
Wartime Government Regulations
References to the Independent Accountant in
Securities Registrations
Clarification of Accountant's Report When
Opinion is Omitted (Revised)
Revision in Short-Form Accountant's Report or

Certificate
Events Subsequent to the Date of Financial
Statements
Reporting on Use of "Other Procedures"
Long-Form Reports

©2018, AICPA