Statements of Position

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Description

The Auditing Standards Board is issuing this proposed statement on auditing standards to revise the guidance contained in Statement on Auditing Standards (SAS) No. 68, Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance (AICPA, Professional Standards, vol. 1, AU sec. 801). This proposed Statement would provide generic guidance to practitioners engaged to perform compliance audits of governmental entities and other recipients of governmental financial assistance. In addition, this proposed Statement would not require frequent revision and updating because it does not identify compliance requirements or specify the form of reporting. This proposed Statement: a. Recognizes three levels of audits (generally accepted auditing standards, Government Auditing Standards, and certain other federal requirements) of recipients of governmental financial assistance. b. Reduces the level of detail included in the auditing standards. (Specific performance and reporting guidance would be included, more appropriately, in the applicable audit and accounting guides and statements of position.) This proposed Statement would supersede SAS No. 68, Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance. Furthermore, as a consequence of the foregoing change, the proposed Statement would require conforming changes to and updating of the guidance in related statements of position and audit and accounting guides.

ISBN

ed94-05-12t

Publication Date

1994

Relational Format

Book

Keywords

Administrative agencies -- Auditing -- Standards -- United States; Economic assistance, Domestic -- 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), 1994, May 12

Proposed statement on auditing standards : Compliance auditing considerations in audits of governmental entities and other recipients of governmental financial assistance;Compliance auditing considerations in audits of governmental entities and other recipients of governmental financial assistance

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