Auditing Standards Board Issues Exposure Draft of Amendment to SAS No. 55.The 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 has issued an exposure draft of a proposed statement on auditing standards titled Amendment to Statement on Auditing Standards No. 55, Consideration of Internal Control in a Financial Statement Audit, as Amended by Statement on Auditing Standards No. 78. Comments are due Jan. 1, 2001. The proposed 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. provides guidance to auditors about the effect of information technology on internal control, and on the auditor's understanding of internal control and assessment of control risk. The 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 believes the guidance is needed because entities of all sizes increasingly are using IT in ways that affect their internal control and the auditor's consideration of internal control in a financial statement audit. Consequently, in some circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , auditors may need to perform tests of controls to perform an effective audit. To obtain a copy of the proposal, visit www.aicpa.org. |
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