Statements of Position



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These proposed SASs establish standards and provide guidance concerning the auditor’s assessment of the risks of material misstatement in a financial statement audit, and the design and performance of audit procedures whose nature, timing, and extent are responsive to the assessed risks. Additionally, these proposed SASs establish standards and provide guidance on planning and supervision, the nature of audit evidence, and evaluating whether the audit evidence obtained affords a reasonable basis for an opinion regarding the financial statements under audit. These proposed SASs were originally exposed on December 2, 2002 (except for the amendment to SAS No. 1 which was approved for exposure by the ASB on April 28, 2005). As a result of significant revisions made to the original exposure draft, the ASB concluded that the exposure drafts should be re-exposed for comment.



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Auditing -- Standards --United States


Accounting | Taxation


Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants; Exposure draft (American Institute of Certified Public Accountants), 2005, June 15

Proposed statements on auditing standards: Amendment to “Due Professional Care in the Performance of Work” of Statement on Auditing Standards No. 1, Codification of Auditing Standards and Procedures; Amendment to Statement on Auditing Standards No. 95, Generally Accepted Auditing Standards; Audit Evidence; Audit Risk and Materiality in Conducting an Audit; Planning and Supervision; Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement; Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained;Amendment to Statement on Auditing Standards No. 39, Audit Sampling



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