Sas no 37 this deals with filings in regards to the

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SAS No. 37: This deals with filings in regards to the federal securities statutes emphasizing on the need to conform to them as explained in section 711. SAS No. 39: This deals with the audit sampling explaining what constitutes a sample in terms of substance and procedures to be used found in section 350. SAS No. 42: This statement is on reporting of financial statement and data that is condensed. Found in section 552. SAS No. 43: This is just a section containing various items in regards to auditing standards. Contains items in section 331.14, 350.47 and other items in section 901 01, 24 and 28. SAS No. 45: This is in relation to section AU 334 in relation to the related parties and transactions to satisfy himself concerning the financial statements and accounting disclosure. SAS No. 46: This statement deals with the consideration of omitted procedures after the report date. This deals with what is missing and how it can be catered for.
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AUDITING STANDARDS 4 SAS 50: The statement looks at how the accounting principles have been applied and whether it was done correctly. SAS 51: This deals with the reporting of financial statements for use in other countries outside the United States. SAS 54: This statement is in regards to illegal acts done by the clients such as fraud. SAS 56: This touches on the analytical procedures that are undertaken in carrying out audit procedures. SAS 57: The statement checks on handling estimates where there are no exact figures. SAS 58: This deals with reports and what should be contained in the reports. SAS 59: In this statement, the principle of going concern is discussed. The entity’s ability to continue operating is discussed. SAS 62: This deals with the special reports in regards to auditing. SAS 65: This deals with the use of internal auditors in assisting with the audit work. SAS 67: This is the section that deals with the confirmation process in the performance of the audit work. SAS 70: The section deals with the audit work of an entity dealing with services. SAS 72 & 73: The two sections deal with the use of underwriters and specialist in the performance of audit work. SAS 84: The section deals with the communication between the current auditor and the previous one. SAS 85: Management representations is discussed in this statements. SAS 87: Touches on the users of the audit report and restrictions on who can use the report.
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AUDITING STANDARDS 5 SAS 88, 89 91: The sections deal service organizations consistency reporting, audit adjustments and federal GAAP hierarchy respectfully. SAS 92: The section is based on the audit of derivative instruments, hedging activities and the investment in securities. SAS 95: Deals with generally accepted auditing standards as found in section 150 of the professional standards. SAS 99: Considers fraud in the preparation and reporting of the financial statement audit. SAS 101, 102 & 103: The two deal with audit fair value and defining professional requirements in the audit statements. 103 deals with the audit documentation.
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  • Fall '19
  • Financial audit, auditing standards, SAS No.

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