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:

 

More from the JofA:

 Find us on Facebook  |   Follow us on Twitter  |   View JofA videos

RESOURCES

Keeping you informed and prepared amid the coronavirus outbreak

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

VIDEO

Excel walk-through: Sparklines

Want to liven up your spreadsheets with some color and graphical elements? Kelly L. Williams, CPA, Ph.D., shows how to use Excel sparklines, which illustrate data trends and patterns via small charts that fit in a single Excel cell.