ASB Issues Interpretation to SAS 119, Three Clarified SASs


The AICPA’s Auditing Standards Board (ASB) issued Interpretation no. 1, “Dating the Auditor’s Report on Supplementary Information,” to SAS no. 119, Supplementary Information in Relation to the Financial Statements as a Whole . The ASB also issued three clarified Statements on Auditing Standards (SASs).

 

The interpretation to SAS no. 119 addresses how an auditor makes clear that no additional procedures were performed on the audited financial statements after the date of the auditor’s report on those financial statements when reporting on the supplementary information (either in a separate report or in an explanatory paragraph within the auditor’s report on the financial statements) after the date of the auditor’s report on the financial statements.

 

In addition, as a result of the ASB’s Clarity Project, the following clarified SASs have been finalized:

 

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