AICPA Professional Standards, 2017, Volume 1 (Paperback)

How This Publication Is Organized 1

Applicability of AICPA Professional Standards  11

U S  AUDITING STANDARDS—AICPA [Clarified] [AU-C]

AU-C Cross-References to SASs  17

AU-C Introduction  31

Forward

Preface—Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards

Glossary of Terms

AU-C 200—299 General Principles and Responsibilities  71

200—Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards

210—Terms of Engagement

220—Quality Control for an Engagement Conducted in Accordance With Generally Accepted Auditing Standards

230—Audit Documentation

9230—Audit Documentation: Auditing Interpretations of Section 230

240—Consideration of Fraud in a Financial Statement Audit

250—Consideration of Laws and Regulations in an Audit of Financial Statements

260—The Auditor’s Communication With Those Charged With Governance

265—Communicating Internal Control Related Matters Identified in an Audit

9265—Communicating Internal Control Related Matters Identified in an Audit: Auditing Interpretations of Section 265

AU-C 300—499 Risk Assessment and Response to Assessed Risks  255

300—Planning an Audit

315—Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement

320—Materiality in Planning and Performing an Audit

330—Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained

AU-C 300—499 Risk Assessment and Response to Assessed

402—Audit Considerations Relating to an Entity Using a Service Organization

450—Evaluation of Misstatements Identified During the Audit AU-C 500—599 Audit Evidence  385

500—Audit Evidence

9500—Audit Evidence: Auditing Interpretations of Section 500

501—Audit Evidence—Specific Considerations for Selected Items

505—External Confirmations

510—Opening Balances—Initial Audit Engagements, Including Reaudit Engagements

520—Analytical Procedures

530—Audit Sampling

540—Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures

550—Related Parties

560—Subsequent Events and Subsequently Discovered Facts

570—The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern

570A—The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern

9570A—The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern: Auditing Interpretations of Section 570

580—Written Representations

585—Consideration of Omitted Procedures After the Report Release Date

AU-C 600—699 Using the Work of Others  661

600—Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)

9600—Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors): Auditing Interpretations of Section 600

610—Using the Work of Internal Auditors

620—Using the Work of an Auditor’s Specialist

9620—Using the Work of an Auditor’s Specialist: Auditing Interpretations of Section 620

AU-C 700—799 Audit Conclusions and Reporting 777

700—Forming an Opinion and Reporting on Financial Statements

9700—Forming an Opinion and Reporting on Financial Statements: Auditing Interpretations of Section 700

AU-C 700—799 Audit Conclusions and Reporting—continued

705—Modifications to the Opinion in the Independent Auditor’s Report

706—Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor’s Report

708—Consistency of Financial Statements

720—Other Information in Documents Containing Audited Financial Statements

725—Supplementary Information in Relation to the Financial Statements as a Whole

9725—Supplementary Information in Relation to the Financial Statements as a Whole: Auditing Interpretations of Section 725

730—Required Supplementary Information

AU-C 800—899 Special Considerations  933

800—Special Considerations—Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks

805—Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement

9805—Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement: Auditing Interpretations of Section 805

806—Reporting on Compliance With Aspects of Contractual Agreements or Regulatory Requirements in Connection With Audited Financial Statements

810—Engagements to Report on Summary Financial Statements

AU-C 900—999 Special Considerations in the United States  1035

905—Alert That Restricts the Use of the Auditor’s Written Communication

910—Financial Statements Prepared in Accordance With a Financial Reporting Framework Generally Accepted in Another Country

915—Reports on Application of Requirements of an Applicable Financial Reporting Framework

920—Letters for Underwriters and Certain Other Requesting Parties

925—Filings With the U S  Securities and Exchange Commission Under the Securities Act of 1933

930—Interim Financial Information

935—Compliance Audits

940—An Audit of Internal Control Over Financial Reporting That Is Integrated With an Audit of Financial Statements

AU-C  Appendixes  1277

AU-C  Topical Index  1333

U S  ATTESTATION STANDARDS—AICPA (CLARIFIED) [AT-C]

AT-C Cross-References to SSAEs  1365

AT-C Introduction  1369

Foreword

Preface to the Attestation Standards

Glossary of Terms

AT-C 100 Common Concepts  1389

105—Concepts Common to All Attestation Engagements

9105—Concepts Common to All Attestation Engagements: Attestation Interpretations of Section 105

AT-C 200 Level of Service  1429

205—Examination Engagements

9205—Examination Engagements: Attestation Interpretations of Section 205

210—Review Engagements

215—Agreed-Upon Procedures Engagements

9215—Agreed-Upon Procedures Engagements: Attestation Interpretations of Section 215

AT-C 300 Subject Matter  1551

305—Prospective Financial Information

310—Reporting on Pro Forma Financial Information

315—Compliance Attestation

320—Reporting on an Examination of Controls at a Service Organization Relevant to User Entities’ Internal Control Over Financial Reporting

395—[Designated for AT Section 701, Management’s Discussion and Analysis]

AT-C… Exhibits  1725

AT-C… Appendixes  1729

AT-C… Topical Index  1735