Guidance provided on SAS No. 134 implementation

By Ken Tysiac

The AICPA has issued a new Technical Question and Answer (TQA) to provide nonauthoritative guidance on implementing the AICPA Auditing Standards Board’s new standard on auditor reporting.

Discussion in TQA 8100.04 addresses the circumstance in which a continuing auditor is engaged to perform an audit of comparative financial statements in the first year of implementation of Statement on Auditing Standards No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements.

The TQA discusses whether the continuing auditor is permitted to express an opinion on all periods presented in one report, in accordance with that standard.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is the JofA’s editorial director.

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