Practice alert 2007-1 issued, Dating of the Auditor's Report and Related Practical Guidance.The Professional Issues Task Force has issued Practice Alert 2007-1, Dating of the Auditor's Report Auditor's Report Recorded in the annual report, the auditor's report tests to see that a corporation's financial statements comply with GAAP. This is sometimes referred to as the clean opinion. Notes: Most auditor's reports consist of three paragraphs. and Related Practical Guidance. It provides guidance to auditors AUDITORS, practice. Persons lawfully appointed to examine and digest accounts referred to them, take down the evidence in writing, which may be lawfully offered in relation to such accounts, and prepare materials on which a decree or judgment may be made; and to report the whole, together of non-issuers and their finns regarding application of certain provisions of Statement on Auditing Standards No. 103, Audit Documentation, primarily relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc dating the auditor's report. The Practice Alert provides guidance with respect to the following: * The audit report date. * Evidence supporting financial statement amounts and disclosures--specifically relating to attorney letters, obtaining waivers and consideration and evaluation of subsequent events. * Financial statement preparation and management's assertions. * Evidence that the audit documentation has been reviewed. The Professional Issues Task Force encourages practitioners and AICPA AICPA See American Institute of Certified Public Accountants (AICPA). member firms to incorporate the guidance contained in the alert as soon as practicable practicable adj. when something can be done or performed. . The alert is currently available on the AICPA's Web site: [email] www.aicpa.org/download/auditstd/pract_alert/pa2007_1.pdf |
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