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Over 50,000 auditors are guided by new and frequently revised accounting and auditing standards; compliance is critical. Practioner's Guide to GAAS (Generally Accepted Accounting Standards) 2003 will provide the guidelines to save time and perform the job better, explaining and interpreting the standards in clear, easy-to-understand language. The authors have set 90% of the standards themselves. This is the only GAAS reference that is organized the way practitioners use the Statements on Auditing Standards.
List of contents
From the contents:
About the Authors.
Preface.
Late-Breaking News/New Exposure Draft.
100-230 The Auditor's Responsibilities and Functions, Introduction to GAAS and the General Standards.
310 Appointment of the Independent Auditor.
311 Planning and Supervision.
312 Audit Risk and Materiality in Conducting an Audit.
313 Substantive Tests prior to the Balance Sheet Date.
315 Communications between Predecessor and Successor Auditors.
316 Consideration of Fraud in a Financial Statement Audit.
317 Illegal Acts by Clients.
319 Consideration of Internal Control in a Financial Statement Audit.
322 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements.
324 Service Organizations.
325 Communication of Internal Control Related Matters Noted in an Audit.
326 Evidential Matter.
329 Analytical Procedures.
330 The Confirmation Process.
331 Inventories.
332 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities.
333 Management Representations.
334 Related Parties.
336 Using the Work of a Specialist.
337 Inquiry of Client's Lawyer Concerning Litigation, Claims, and Assessments.
339 Audit Documentation.
339A Working Papers.
341 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern.
342 Auditing Accounting Estimates.
350 Audit Sampling.
380 Communication with Audit Committees.
390 Consideration of Omitted Procedures After the Report Date.
410/411 Adherence to GAAP (410) and the Meaning of "Present Fairly in Conformity with GAAP" (411).
420 Consistency of Application of Generally Accepted Accounting Principles.
431 Adequacy of Disclosure in Financial Statements.
504 Association with Financial Statements.
508 Reports on Audited Financial Statements.
530 Dating of the Independent Auditor's Report ...
About the author
Dan M. Guy is a writer and consultant in litigation services. He completed an eighteen-year career with the AICPA.
D. R. Carmichael is the Wollman Distinguished Professor of Accountancy in the Stan Ross Department of Accountancy at Bernard Baruch College, CUNY. Formerly, he was the Vice President, Auditing, at the AICPA.
