Statements of Position

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Since the issuance of Statement on Auditing Standards (SAS) No. 63, Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance, certain developments have occurred that affect the guidance provided by that Statement. These developments include the issuance by the Office of Management and Budget (OMB) of Circular A-133, Audits of Institutions of Higher Education and Other Nonprofit Institutions, and the revision of the OMB Compliance Supplement for Single Audits of State and Local Governments. In addition, the Auditing Standards Board became aware of certain issues related to the implementation of SAS No. 63 that required clarification. To address these matters, the Auditing Standards Board is considering the issuance of this proposed Statement to revise the guidance provided in SAS No. 63. This proposed Statement would amend SAS No. 63 to: 1. Provide guidance on the auditor's responsibility when, during an audit in accordance with generally accepted auditing standards, the auditor becomes aware that the entity is subject to an audit requirement that is not encompassed in the terms of the engagement. 2. Require the issuance of a report on the general requirements in an audit conducted in accordance with the Single Audit Act of 1984 and OMB Circular A-128, Audits of State and Local Governments, whether or not the entity has major programs. (SAS No. 63 requires this report only when the entity has major programs.) 3. Provide guidance on the auditor's compliance auditing responsibilities under OMB Circular A-133. 4. Provide guidance on the auditor's responsibilities when the auditor is engaged to conduct a program-specific audit. 5. Eliminate from the appendixes of SAS No. 63 certain excerpts of the Compliance Supplement for Single Audits of State and Local Governments that have been superseded. (To ensure that they are using up-to-date guidance, practitioners should refer to the appropriate federal sources to obtain the applicable federal requirements.) 6. Make certain conforming and editorial changes. This proposed Statement would supersede SAS No. 63. For purposes of this exposure draft, the language to be revised is shown with a line drawn through it and the new language is presented in boldface italics.

ISBN

ed91-04-09t

Publication Date

1991

Relational Format

Book

Keywords

Administrative agencies -- United States -- Auditing; Auditing, Internal -- United States; Finance, Public -- Auditing -- Standards -- United States

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), 1991, Apr. 9

Proposed statement on auditing standards : compliance auditing applicable to governmental entities and other recipients of governmental financial assistance;Compliance auditing applicable to governmental entities and other recipients of governmental financial assistance

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