Statements on Auditing Standards (United States)
In the United States, Statements on Auditing Standards provide guidance to external auditors on generally accepted auditing standards (abbreviated as GAAS) in regards to auditing a non-public company[1] and issuing a report. They are promulgated by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA), which holds all copyright on the Standards. They are commonly abbreviated as "SAS" followed by their respective number and title.
With the permission of the AICPA, the full text of Standards 1–101 has been posted on the website of the Digital Accounting Collection at the J.D. Williams Library of the University of Mississippi. Links to these full-text records appear in the List of Statements of Auditing Standards below.
List of Statements of Auditing Standards
| No. | Official title | Issued on | Current status |
|---|---|---|---|
| 1 | Codification of Auditing Standards and Procedures full-text | November 1972 | In effect |
| 2 | Reports on Audited Financial Statements full-text | October 1974 | Superseded by SAS 58 |
| 3 | The Effects of EDP on the Auditor’s Study and Evaluation of Internal Control full-text | December 1974 | Superseded by SAS 48 |
| 4 | Quality Control Considerations for a Firm of Independent Auditors full-text | December 1974 | Superseded by SAS 25 |
| 5 | The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" in the Independent Auditor's Report full-text | July 1975 | Superseded by SAS 69 |
| 6 | Related Party Transactions full-text | July 1975 | Superseded by SAS 45 |
| 7 | Communications Between the Predecessor and Successor Auditors full-text | October 1975 | Superseded by SAS 84 |
| 8 | Other Information in Documents Containing Audited Financial Statements full-text | December 1975 | In effect |
| 9 | The Effect of an Internal Audit Function on the Scope of the Independent Auditor's Examination full-text | December 1975 | Superseded by SAS 65 |
| 10 | Limited Review of Interim Financial Information full-text | December 1975 | Superseded by SAS 24 |
| 11 | Using the Work of a Specialist full-text | December 1975 | Superseded by SAS 73 |
| 12 | Inquiry of a Client's Lawyer Concerning Litigation, Claims, and Assessments full-text | January 1976 | In effect |
| 13 | Reports on a Limited Review of Interim Financial Information full-text | May 1976 | Superseded by SAS 24 |
| 14 | Special Reports full-text | December 1976 | Superseded by SAS 62 |
| 15 | Reports on Comparative Financial Statements full-text | December 1976 | Superseded by SAS 58 |
| 16 | The Independent Auditor's Responsibility full-text | January 1977 | Superseded by SAS 53 |
| 17 | Illegal Acts by Clients full-text | January 1977 | Superseded by SAS 54 |
| 18 | Unaudited Replacement Cost-Information full-text | May 1977 | Withdrawn by the ASB |
| 19 | Client Representations full-text | June 1977 | Superseded by SAS 85 |
| 20 | Required Communication of Material Weaknesses in Internal Accounting Control full-text | August 1977 | Superseded by SAS 60 |
| 21 | Segment Information full-text | December 1977 | Withdrawn by the ASB |
| 22 | Planning and Supervision full-text | March 1978 | In effect |
| 23 | Analytical Review Procedures full-text | October 1978 | Superseded by SAS 56 |
| 24 | Review of Interim Financial Information full-text | March 1979 | Superseded by SAS 36 |
| 25 | The Relationship of Generally Accepted Auditing Standards to Quality Control Standards full-text | November 1979 | In effect |
| 26 | Association with Financial Statements full-text | November 1979 | In effect |
| 27 | Supplementary Information Required by the Financial Accounting Standards Board full-text | December 1979 | Superseded by SAS 52 |
| 28 | Supplementary Information on the Effects of Changing Prices full-text | June 1980 | Superseded by SAS 52 |
| 29 | Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents full-text | July 1980 | In effect |
| 30 | Reporting on Internal Accounting Control full-text | July 1980 | Superseded by SSAE 2 |
| 31 | Evidential Matter full-text | August 1980 | As amended by SAS 80 |
| 32 | Adequacy of Disclosure of Financial Statements full-text | October 1980 | In effect |
| 33 | Supplementary Oil and Gas Reserve Information full-text | October 1980 | Superseded by SAS 45 |
| 34 | The Auditor's Considerations When a Question Arises About and Entity's Continued Existence full-text | March 1981 | Superseded by SAS 59 |
| 35 | Special Reports-Applying Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement full-text | April 1981 | Superseded by SAS 75 |
| 36 | Review of Interim Financial Information full-text | April 1981 | Superseded by SAS 71 |
| 37 | Filings Under Federal Securities Statutes full-text | April 1981 | In effect |
| 38 | Letters for Underwriters full-text | April 1981 | Superseded by SAS 49 |
| 39 | Audit Sampling full-text | June 1981 | In effect |
| 40 | Supplementary Mineral Reserve Information full-text | February 1982 | Superseded by SAS 52 |
| 41 | Working Papers full-text | April 1982 | Superseded by SAS 96 |
| 42 | Reporting on Condensed Financial Statements and Selected Financial Data full-text | September 1982 | In effect |
| 43 | Omnibus Statement on Auditing Standards full-text | August 1982 | Superseded by various SAS |
| 44 | Special-Purpose Reports on Internal Accounting Control at Service Organizations full-text | December 1982 | Superseded by SAS 70 |
| 45 | Omnibus Statement on Auditing Standards-1983 full-text | August 1983 | In effect |
| 46 | Consideration of Omitted Procedures After the Report Date full-text | September 1983 | In effect |
| 47 | Audit Risk and Materiality in Conducting an Audit full-text | December 1983 | In effect |
| 48 | The Effects of Computer Processing on the Audit of Financial Statements full-text | July 1984 | In effect |
| 49 | Letters for Underwriters full-text | September 1984 | Superseded by SAS 72 |
| 50 | Reports on the Application of Accounting Principles full-text | July 1986 | In effect |
| 51 | Reporting on Financial Statements Prepared for Use in Other Countries full-text | July 1986 | In effect |
| 52 | Omnibus Statement on Auditing Standards-1987 full-text | April 1988 | In effect |
| 53 | The Auditor's Responsibility to Detect and Report Errors and Irregularities full-text | April 1988 | Superseded by SAS 82 |
| 54 | Illegal Acts by Clients full-text | April 1988 | In effect |
| 55 | Consideration of Internal Control in a Financial Statement Audit full-text | April 1988 | Superseded by SAS 109 |
| 56 | Analytical Procedures full-text | April 1988 | In effect |
| 57 | Auditing Accounting Estimates full-text | April 1988 | In effect |
| 58 | Reports on Audited Financial Statements full-text | April 1988 | In effect |
| 59 | The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern full-text | April 1988 | Superseded by SAS 126 |
| 60 | Communication of Internal Control Related Matters Noted in an Audit full-text | April 1988 | Superseded by SAS 112 |
| 61 | Communication With Audit Committees full-text | April 1988 | Superseded by SAS 114, in part only (because SAS 114 was adopted after April 16, 2003 and was not subsequently adopted as an Interim Auditing Standard by the PCAOB, it does not apply to public companies, so public companies should retain references in their proxy statements and audit committee charters (as applicable) to SAS 61) |
| 62 | Special Reports full-text | April 1989 | In effect |
| 63 | Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance full-text | April 1989 | Superseded by SAS 68 |
| 64 | Omnibus Statement on Auditing Standards-1990 full-text | December 1990 | In effect |
| 65 | The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements full-text | April 1991 | In effect |
| 66 | Communication of Matters About Interim Financial Information Filed or to Be Filed with Special Regulatory Agencies-An Amendment to SAS No. 36: Review of Interim Financial Information full-text | June 1991 | Superseded by SAS 71 |
| 67 | The Confirmation Process full-text | November 1991 | In effect |
| 68 | Compliance Auditing Considerations in Audits of Governmental Financial Assistance full-text | December 1991 | Superseded by SAS 74 |
| 69 | The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" full-text | January 1992 | In effect |
| 70 | Service Organizations full-text | April 1992 | Superseded by SSAE 16, SSAE 18 |
| 71 | Interim Financial Information full-text | May 1992 | Superseded by SAS 100 |
| 72 | Letters for Underwriters and Certain Other Requesting Parties full-text | February 1993 | In effect |
| 73 | Using the Work of a Specialist full-text | July 1994 | In effect |
| 74 | Compliance Auditing Considerations in Audits of Governmental Financial Assistance full-text | February 1995 | Superseded by SAS 117 |
| 75 | Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement full-text | September 1995 | Superseded by SAS 93 |
| 76 | Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties full-text | September 1995 | In effect |
| 77 | 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 full-text | November 1995 | In effect |
| 78 | Consideration of Internal Control in a Financial Statement Audit: An Amendment to Statement on Auditing Standards No. 55 full-text | December 1995 | In effect |
| 79 | Amendment to Statement on Auditing Standards No. 58: Reports on Audited Financial Statements full-text | December 1995 | In effect |
| 80 | Amendment to Statement on Auditing Standards No. 31: Evidential Matter full-text | December 1996 | In effect |
| 81 | Auditing Investments full-text | December 1996 | Superseded by SAS 92 |
| 82 | Consideration of Fraud in a Financial Statement Audit full-text | February 1997 | Superseded by SAS 99 |
| 83 | Establishing an Understanding With the Client full-text | October 1997 | In effect |
| 84 | Communications Between the Predecessor and Successor Auditors full-text | October 1997 | In effect |
| 85 | Management Representations full-text | November 1997 | In effect |
| 86 | Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties full-text | March 1998 | In effect |
| 87 | Restricting the Use of the Auditor's Report full-text | September 1998 | In effect |
| 88 | Service Organizations and Reporting on Consistency full-text | December 1999 | In effect |
| 89 | Audit Adjustments full-text | December 1999 | In effect |
| 90 | Audit Committee Communications full-text | December 1999 | In effect |
| 91 | Federal GAAP Hierarchy full-text | April 2000 | In effect |
| 92 | Auditing Derivative Instruments, Hedging Activities, and Investments in Securities full-text | September 2000 | In effect |
| 93 | Omnibus Statement on Auditing Standards-2000 full-text | October 2000 | In effect |
| 94 | The Effect of Information Technology on the Auditor's Consideration of Internal Control in a Financial Statement Audit full-text | May 2001 | In effect |
| 95 | Generally Accepted Auditing Standards full-text | December 2001 | In effect |
| 96 | Audit Documentation full-text | January 2002 | Superseded by SAS 103 |
| 97 | Amendment to Statement on Auditing Standards No. 50: Reports on the Application of Accounting Principles full-text | June 2002 | In effect |
| 98 | Omnibus Statement on Auditing Standards-2002 full-text | September 2002 | In effect |
| 99 | Consideration of Fraud in a Financial Statement Audit full-text | October 2002 | In effect |
| 100 | Interim Financial Information full-text | November 2002 | In effect |
| 101 | Auditing Fair Value Measurements and Disclosures full-text | January 2003 | In effect |
| 102 | Defining Professional Requirements in Statements on Auditing Standards full-text | December 2005 | In effect |
| 103 | Audit Documentation full-text | December 2005 | In effect |
| 104 | Amendment to Statement on Auditing Standards No. 1: Codification of Auditing Standards and Procedures (Due Professional Care in the Performance of Work) full-text | February 2006 | In effect |
| 105 | Amendment to Statement on Auditing Standards No. 95: Generally Accepted Auditing Standards full-text | February 2006 | In effect |
| 106 | Audit Evidence full-text | February 2006 | In effect |
| 107 | Audit Risk and Materiality in Conducting an Audit full-text | February 2006 | In effect |
| 108 | Planning and Supervision full-text | February 2006 | In effect |
| 109 | Understanding the Entity and its Environment and Assessing the Risks of Material Misstatements full-text | February 2006 | In effect |
| 110 | Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained full-text | February 2006 | In effect |
| 111 | Amendment to Statement on Auditing Standards No. 39: Audit Sampling full-text | February 2006 | In effect |
| 112 | Communicating Internal Control Related Matters Identified in an Audit full-text | May 2006 | Superseded by SAS 115 |
| 113 | Omnibus 2006 full-text | November 2006 | In effect |
| 114 | The Auditor’s Communication With Those Charged With Governance full-text | December 2006 | In effect, in part supersedes SAS 61 (because the standard was adopted after April 16, 2003 and was not subsequently adopted as an Interim Auditing Standard by the PCAOB, it does not apply to public companies, so public companies should retain references to SAS 61) |
| 115 | Communicating Internal Control Related Matters Identified in an Audit full-text | October 2008 | In effect |
| 116 | Interim Financial Information full-text | February 2009 | In effect |
| 117 | Compliance Audits full-text | December 2009 | In effect |
| 118 | Other Information in Documents Containing Audited Financial Statements | 2010 | In effect |
| 119 | Supplementary Information in Relation to the Financial Statements as a Whole | 2010 | In effect |
| 120 | Required Supplementary Information | 2010 | In effect |
| 121 | Revised applicability of statement on auditing standards no. 100, Interim financial information | February 2011 | In effect |
| 122 | Clarification and recodification | October 2011 | In effect |
| 123 | Omnibus statement on auditing standards | October 2011 | In effect |
| 124 | Financial statements prepared in accordance with a financial reporting framework generally accepted in another country | October 2011 | In effect |
| 125 | Alert that restricts the use of the auditor's written communication | December 2011 | In effect |
| 126 | Auditor's consideration of an entity's ability to continue as a going concern (redrafted) | July 2012 | In effect |
| 127 | Omnibus statement on auditing standards - 2913 | January 2013 | In effect |
| 128 | Using the work of internal auditors | February 2014 | In effect |
| 129 | Amendment to statement on auditing standards no. 122 section 920, Letters for underwriters and certain other requesting parties, as amended | July 2014 | In effect |
| 130 | Audit of internal control over financial reporting that is integrated with an audit of financial statements | October 2015 | In effect |
| 131 | Amendment to Statement on auditing standards no. 122, Section 700, Forming an opinion and reporting on financial statements | January 2016 | In effect |
| 132 | The Auditor's Consideration of an Entity’s Ability to Continue as a Going Concern | February 2017 | In effect |
| 133 | Auditor Involvement With Exempt Offering Documents | July 2017 | In effect |
| 134 | Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements | May 2019 | In effect |
| 135 | Omnibus Statement on Auditing Standards—2019 | May 2019 | In effect |
| 136 | Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA | July2019 | In effect |
| 137 | The Auditor’s Responsibilities Relating to Other Information Included in Annual Reports | July 2019 | In effect |
| 138 | Amendments to the Description of the Concept of Materaility | December 2019 | In effect |
Codification of Statements on Auditing Standards
The American Institute of Certified Public Accountants began codifying the Statements on Auditing standards semiannually in 1976. The Codification of Statements on Auditing Standards is generally issued in January, and the U.S. Auditing Standards is issued as part of the AICPA Professional Standards in June of each year. The current U.S. Auditing Standards are available at the AICPA's Web site. Below is a list of older codifications from the Professional Standards.
| Date | Official title | Issued on |
|---|---|---|
| 1976 | AICPA Professional Standards: Auditing as of July 1, 1976 full-text | July 1, 1976 |
| 1977 | AICPA Professional Standards: Auditing as of July 1, 1977 full-text | July 1, 1977 |
| 1978 | AICPA Professional Standards: Auditing as of July 1, 1978 full-text | July 1, 1978 |
| 1979 | AICPA Professional Standards: Auditing as of July 1, 1979 full-text | July 1, 1979 |
| 1980 | AICPA Professional Standards: Auditing as of June 1, 1980 full-text | June 1, 1980 |
| 1981 | AICPA Professional Standards: Auditing as of June 1, 1981 full-text | June 1, 1981 |
| 1982 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1982 full-text | June 1, 1982 |
| 1983 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1983 full-text | June 1, 1983 |
| 1984 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1984 full-text | June 1, 1984 |
| 1985 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1985 full-text | June 1, 1985 |
| 1986 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1986 full text | June 1, 1986 |
| 1987 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1987 full-text | June 1, 1987 |
| 1988 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1988 full-text | June 1, 1988 |
| 1989 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1989 full-text | June 1, 1989 |
| 1990 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1990 full-text | June 1, 1990 |
| 1991 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1991 full-text | June 1, 1991 |
| 1992 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1992 full-text | June 1, 1992 |
| 1993 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1993 full-text | June 1, 1993 |
| 1994 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1994 full-text | June 1, 1994 |
| 1995 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1995 full-text | June 1, 1995 |
| 1996 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1996 full-text | June 1, 1996 |
| 1997 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1997 full-text | June 1, 1997 |
| 1998 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1998 full-text | June 1, 1998 |
| 1999 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1999 full-text | June 1, 1999 |
| 2000 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2000 full-text | June 1, 2000 |
| 2001 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2001 full-text | June 1, 2001 |
| 2002 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2002 full-text | June 1, 2002 |
| 2003 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2003 full-text | June 1, 2003 |
| 2004 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2004 full-text | June 1, 2004 |
| 2005 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2005 full-text | June 1, 2005 |
| 2006 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2006 full-text | June 1, 2006 |
| 2007 | AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2007 full-text | June 1, 2007 |
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See also
- Auditing
- AICPA
- Statements of Financial Accounting Standards (USA)
- International Standards on Auditing
- Statements on auditing standards
Notes
- AICPA Operating Policies, pg. 1
References
Primary sources
- Auditing Standards, American Institute of Certified Public Accountants
- Auditing, Attestation, and Quality Control Standards Setting Activities: Operating Policies (2004), American Institute of Certified Public Accountants
Secondary sources
- Mark S. Beasley, Joseph V. Carcello (2006), GAAS Guide 2007, CCH (publisher), ISBN 9780471798309
- Don M. Pallais, Cheryl Hartfield, Mary Lou Wurdack (2006); PPC's Guide to GAAS 2007, Practitioners Publishing Company, ISBN 978-0-7646-4188-6
- Michael J. Ramos (2006), Wiley Practitioner's Guide to GAAS 2007: Covering all SASs, SSAEs, SSARSs, and Interpretations, Wiley Publishing, ISBN 9780471798309
External links
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