ASB ED addresses Audit Documentation.The Institute's Auditing Standards Board In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public (ASB ASB Asbestos ASB Arbeiter Samariter Bund (German medical help organisation) ASB Anti-Social Behaviour ASB Accounting Standards Board (UK FRC) ASB Aarhus School of Business ) issued an exposure draft (ED) of a proposed Statement on Auditing Standards (SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. ), Audit Documentation, which will supersede SAS no. 96 (AICPA AICPA See American Institute of Certified Public Accountants (AICPA). , Professional Standards, AU section 339) and amend two other statements (www.aicpa.org/members/div/auditstd/2005_10_12auditdoc.asp). The ED establishes standards and provides auditors of nonissuers with guidance on documentation of audits of financial statements or financial reporting information, addressing issues that arose after the ASB issued SAS no. 96, such as certain state regulators' and government auditors' emphasis on greater uniformity in the preparation, filing and retention of audit documentation by nonpublic organizations. The ED also proposes amendments to SAS no. 1, Codification of Auditing Standards and Procedures (Aid section 530.01 and .05, "Dating of the Independent Auditor's Report") and to SAS no. 95, Generally Accepted Auditing Standards Generally Accepted Auditing Standards, or GAAS, are ten auditing standards, developed by the AICPA, consisting of general standards, standards of field work, and standards of reporting, along with interpretations. (Aid section 150.04). Comments are due May 15, 2005. |
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