Audit risk and materiality in conducting an audit; Statement on auditing standards, 047

Authors

American Institute of Certified Public Accountants. Auditing Standards Board

Files

Description

This Statement provides guidance on the auditor's consideration of audit risk and materiality when planning and performing an examination of financial statements in accordance with generally accepted auditing standards. Audit risk and materiality affect the application of generally accepted auditing standards, especially the standards of field work and reporting, and are implicit in the auditor's standard report. Audit risk and materiality, among other matters, need to be considered together in determining the nature, timing, and extent of auditing procedures and in evaluating the results of those procedures.

Publication Date

1983

Relational Format

pamphlet

Keywords

Auditing -- Standards -- United States; Risk assessment -- United States -- Auditing

Disciplines

Accounting | Taxation

Comments

Copyright and permission to reprint held by: American Institute of Certified Public Accountants

Recommended Citation

American Institute of Certified Public Accountants. Auditing Standards Board, "Audit risk and materiality in conducting an audit; Statement on auditing standards, 047" (1983). Statements on Auditing Standards. 47.
https://egrove.olemiss.edu/aicpa_sas/47