How This Publication is Organized 1
Applicability of AICPA Professional Standards 3
U.S. Auditing Standards—AICPA (Clarified) [AU-C]
AU-C Cross-References to SASs 9
AU-C Introduction 25
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 65
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
AU-C 300—499 Risk Assessment and Response to Assessed Risks 249
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
AU-C 500—599 Audit Evidence 379
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
580—Written Representations
585—Consideration of Omitted Procedures After the Report Release Date
AU-C 600—699 Using the Work of Others 629
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
AU-C 700—799 Audit Conclusions and Reporting 745
700—Forming an Opinion and Reporting on Financial Statements
700A—Forming an Opinion and Reporting on Financial Statements
9700A—Forming an Opinion and Reporting on Financial Statements: Auditing Interpretations of Section 700
701—Communicating Key Audit Matters in the Independent Auditor’s Report
705—Modifications to the Opinion in the Independent Auditor’s Report
705A—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
706A—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
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 1137
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
AU-C 900—999 Special Considerations in the United States 1239
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
AU-C Appendixes 1503
AU-C Topical Index 1563
