Heralded fraud SAS released.
A special report in the Journal (June 96, page 17), announcing the issuance of the fraud exposure draft, discussed the major issues in the proposed statement. "There were no major changes in structure or focus in the final statement," said Landsittel, "but I don't want to undersell the important input we got." The ASB received comment letters from small and large firms as well as state CPA societies and others. "The input was very helpful in identifying areas where clarification was required. We also received some helpful comments on audits of smaller entities, especially from the Institute's private companies practice section technical issues committee. We made some changes to ensure that the standard was workable for smaller clients."
Everything the CPA needs to know
An article on SAS no. 82, discussing it in more detail, win appear in the April Journal. The Institute also is publishing a practice aid, Fraud: Practical Guidance for Considering Fraud in a Financial Statement, which will be available at the end of the month. SAS no. 82 (product no. 060675JA) is now available. The practice aid (product no. 008883JA) is $59 for members if ordered before publication and $74 thereafter. The Institute al o will be making available a range of other guidance products, which win be described in a leaflet included with each copy of SAS no. 82.
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|Title Annotation:||SAS no. 82 "Consideration of Fraud in a Financial Statement Audit"|
|Publication:||Journal of Accountancy|
|Article Type:||Brief Article|
|Date:||Feb 1, 1997|
|Previous Article:||Single audit guidance due this spring.|
|Next Article:||Attesting to history.|