Proposed SAS on communication of internal control released for comment.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 that would supersede To obliterate, replace, make void, or useless. Supersede means to take the place of, as by reason of superior worth or right. A recently enacted statute that repeals an older law is said to supersede the prior legislation. 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. No. 60, Communication of Internal Control Related Matters Noted in an Audit. Comments on the exposure draft are due Oct. 31, 2005. Also, accompanying the exposure draft is a document entitled "A Framework for Evaluating Control Deficiencies," designed to assist auditors in applying the proposed SAS by providing guidance on evaluating the significance of control deficiencies in various situations. The document is not a part of the proposed SAS: however, 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 is seeking input from readers regarding whether the document is helpful in applying the SAS, and whether it should be included as a permanent appendix to the SAS. To view the exposure draft, visit: www.aicpa.org/members/div/auditstd/drafts.htm |
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