Publisher's Synopsis
The clearest, easiest–to–use guide to understanding GAAS 2003 on the market–fully updated!
This latest resource to understanding GAAS addresses the toughest part of an accountant′s job–identifying, interpreting, and applying the many audit, attest, review, and compilation standards relevant to a particular engagement. Wiley Practitioner′s Guide to GAAS 2003, the only reference written by the primary authors of the AICPA Statements on Auditing Standards (SASs), offers the accounting professional a clear, accessible distillation of the official language of those standards, Statements on Standards for Attestation Engagements (SSAEs), and Statements on Standards for Accounting and Review Services (SSARSs)–as well as advice on exactly when and how to remain fully compliant with each. The only GAAS reference organized according to practitioners′ actual use of the Statements on Auditing Standards, GAAS 2003 presents each statement individually, explaining how the standards are related, and offering guidance on the entire engagement process in the form of practice notes, checklists, questionnaires, and real–world examples that illustrate how the fundamental requirements of each section are applied. Other key features include:
∗ A brief identification of each SAS, SSAE, and SSARS, with its effective date and tips on when to apply it
∗ A convenient and comprehensive glossary of official definitions, which are usually scattered throughout a standard
∗ Behind–the–scenes explanations of the reasons for each pronouncement and brief explanations of the basic ideas of the section
∗ Concise listing and descriptions of each standard′s specific mandates
∗ Easy–to–read capsule summary of interpretations, plus selected AICPA practice alerts and advisories
∗ Helpful techniques for remaining compliant with each standard
∗ Updates provided on the Web at www.wiley.com/gaas
New in GAAS 2003!
∗ SAS 95, Generally Accepted Auditing Standards
∗ SAS 96, Audit Documentation
∗ SAS 97, Amendment to Statement on Auditing Standards No. 50, Reports on the Application of Accounting Principles
∗ SSAE 11, Attest Documentation
This edition also notes changes expected to be made by SAS 98, Omnibus–2002, and SSAE 12, Amendment to SSAE 10, Attestation Standards: Revision and Recodification.
