Statements of Position



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1. The proposed SAS Omnibus will amend the general and reporting standards that were not amended by SAS No. 105. The proposed SAS Omnibus will also amend those SASs that quote the 10 standards to conform them with the changes in SAS No. 105 and to the changes proposed in this Statement. 2. The proposed amendment to SAS No. 99, Consideration of Fraud in a Financial Statement Audit, adds a footnote to SAS No. 99 that provides a clear link between the auditor’s consideration of fraud and the auditor’s assessment of risk and the auditor’s procedures in response to those assessed risks. 3. The amendments in this exposure draft are necessary to remove references to the completion of fieldwork . 4. The date of management’s representation letter is changed to align it with the requirement in SAS No. 103 that the auditor’s report not be dated prior to the date on which the auditor has obtained sufficient appropriate audit evidence.

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Relational Format



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.

Proposed statement on auditing standards : Omnibus--2006;Omnibus--2006 ; Exposure draft (American Institute of Certified Public Accountants), 2006, July 25



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