The AICPA auditing standards board issues three
standards. The first, Statement on Auditing Standards (SAS) no. 98,
Omnibus 2002, contains amendments to SAS nos. 1, 8, 25, 29,
47, 52, 58 and 95. SAS no. 98 also amends SAS no. 70 by rescinding
Interpretation no. 6, incorporating its guidance into that statement.
Two other standards, SSAE no. 12, Amendment to SSAE No. 10,
Attestation Standards, and Statement on Quality Control Standards
(SQCS) no. 6, Amendment to SQCS No. 2, System of Quality
Control for a CPA Firm’s Accounting and Auditing Practice, clarify
that, although an effective quality control system is conducive to
compliance with GAAS or the attestation standards, deficiencies in, or
noncompliance with, a firm’s quality control system do not, in and of
themselves, indicate a failure to perform an engagement in accordance
with the applicable professional standards. All three standards appear
in Official Releases, page 112, and are also available from the AICPA
order department at 888-777-7077.
Auditing
