In our opinion ... ; a new audit report attempts to close the expectations gap
Article Abstract:
Statement on Auditing Standard (SAS) No. 58, Reports on Audited Financial Statements, attempts to close the gap between the level of confidence perceived by users of financial statements and the level of confidence provided by the auditor by revising the auditor's standard report. The new report has been expanded to include a paragraph that explains the nature of the audit. SAS 58 requires that the report be clearly labelled as independent, and that who is being audited, the financial statements being presented, and the time the statements cover be identified in the introductory paragraph. The scope paragraph of the new report must state that the auditor did the necessary tests and adds five new phrases. The opinion paragraph of the new report adds the phrase "in all material respects" to clarify the statement "presents fairly".
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1990
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Planning and supervision of an audit engagement under SAS No. 48
Article Abstract:
The Statement on Auditing Standards No. 22 (SAS No. 22), Planning and Supervision, gives help to the independent auditor who makes an evaluation according to generally accepted auditing standards. Exact assistance is furnished for the areas of business knowledge, audit program presentation, and for the handling of the different opinions of accountants. SAS No. 48 may help some accounting firms with evaluating the advantages provided by a computer expert working on their auditing staffs.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1986
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Limited assurance engagements in the classroom
Article Abstract:
Classification and summary information is provided for attest services known as limited assurance engagements (LAEs). The information is derived from the auditing literature and may be useful for classroom instruction. The LAEs examined illustrate three basic concepts that differentiate the types of engagements: the nature of the engagement, the engagement requirements, and the type of report.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1991
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