Title Details

Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.
The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.

How This Publication Is Organized 1

Applicability of AICPA Professional Standards 3

US AUDITING STANDARDS—AICPA (Clarified) [AU-C]

AU-C Cross-References to SASs 9

AU-C Introduction 23

Foreword

Preface—Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards

Glossary of Terms

AU-C 200—299 General Principles and Responsibilities 63

200—Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards

210—Terms of Engagement

220—Quality Control for an Engagement Conducted in Accordance With Generally Accepted Auditing Standards

230—Audit Documentation

9230—Audit Documentation: Auditing Interpretations of Section 230

240—Consideration of Fraud in a Financial Statement Audit

250—Consideration of Laws and Regulations in an Audit of Financial Statements

260—The Auditor’s Communication With Those Charged With Governance

265—Communicating Internal Control Related Matters Identified in an Audit

9265—Communicating Internal Control Related Matters Identified in an Audit: Auditing Interpretations of Section 265

AU-C 300—499 Risk Assessment and Response to Assessed Risks 247

300—Planning an Audit

315—Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement

320—Materiality in Planning and Performing an Audit

330—Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained

402—Audit Considerations Relating to an Entity Using a Service Organization

450—Evaluation of Misstatements Identified During the Audit

AU-C 500—599 Audit Evidence 377

500—Audit Evidence

9500—Audit Evidence: Auditing Interpretations of Section 500

501—Audit Evidence—Specific Considerations for Selected Items

505—External Confirmations

510—Opening Balances—Initial Audit Engagements, Including Reaudit Engagements

520—Analytical Procedures

530—Audit Sampling

540—Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures

550—Related Parties

560—Subsequent Events and Subsequently Discovered Facts

570—The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern

570A—The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern

9570A—The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern: Auditing Interpretations of Section 570A

580—Written Representations

585—Consideration of Omitted Procedures After the Report Release Date

AU-C 600—699 Using the Work of Others 653

600—Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)

9600—Special Considerations—Audits of Group Financial Statements (Including theWork of Component Auditors): Auditing Interpretations of Section 600

610—Using the Work of Internal Auditors

620—Using the Work of an Auditor’s Specialist

9620—Using the Work of an Auditor’s Specialist: Auditing Interpretations of Section 620

AU-C 700—799 Audit Conclusions and Reporting 767

700—Forming an Opinion and Reporting on Financial Statements

9700—Forming an Opinion and Reporting on Financial Statements: Auditing Interpretations of Section 700

705—Modifications to the Opinion in the Independent Auditor’s Report

706—Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor’s Report

708—Consistency of Financial Statements

720—Other Information in Documents Containing Audited

AU-C 700—799 Audit Conclusions and Reporting—continued

725—Supplementary Information in Relation to the Financial Statements as a Whole

9725—Supplementary Information in Relation to the Financial

Statements as a Whole: Auditing Interpretations of Section 725

730—Required Supplementary Information

AU-C 800—899 Special Considerations 923

800—Special Considerations—Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks

805—Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement

9805—Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement: Auditing Interpretations of Section 805

806—Reporting on Compliance With Aspects of Contractual Agreements or Regulatory Requirements in Connection With Audited Financial Statements

810—Engagements to Report on Summary Financial Statements

AU-C 900—999 Special Considerations in the United States 1025

905—Alert That Restricts the Use of the Auditor’s Written Communication

910—Financial Statements Prepared in Accordance With a Financial Reporting Framework Generally Accepted in Another Country

915—Reports on Application of Requirements of an Applicable Financial Reporting Framework

920—Letters for Underwriters and Certain Other Requesting Parties

925—Filings With the US Securities and Exchange Commission Under the Securities Act of 1933

930—Interim Financial Information

935—Compliance Audits

940—An Audit of Internal Control Over Financial Reporting That Is Integrated With an Audit of Financial Statements

945—Auditor Involvement With Exempt Offering Documents

AU-C Appendixes 1287

AU-C Topical Index 1347