Statements of Position

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Description

If adopted, this proposed Statement would supersede Statement on Auditing Standards No. 2, Reports on Audited Financial Statements, paragraphs 21 through 26. It provides additional guidance to assist the auditor in deciding whether to modify ("subject to") his report because of a matter involving an uncertainty. This reporting guidance follows the framework of FASB Statement No. 5, Accounting for Contingencies, which discusses contingencies in terms of the probable, reasonably possible and remote likelihood of their occurrence. Guidance regarding procedures for auditing uncertainties is also provided.

ISBN

ed85-11-08t

Publication Date

1985

Relational Format

Book

Keywords

Contingencies in finance -- Accounting; Uncertainty

Disciplines

Accounting | Taxation

Comments

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), 1985, Nov. 8

Proposed statement on auditing standards : The auditor's consideration of uncertainties;Auditor's consideration of uncertainties

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