Statements on Auditing Standards (United States)

In the United States, Statements on Auditing Standards provide guidance to external auditors on generally accepted auditing standards (abbreviated as GAAS) in regards to auditing a non-public company[1] and issuing a report. They are promulgated by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA), which holds all copyright on the Standards. They are commonly abbreviated as "SAS" followed by their respective number and title.

With the permission of the AICPA, the full text of Standards 1–101 has been posted on the website of the Digital Accounting Collection at the J.D. Williams Library of the University of Mississippi. Links to these full-text records appear in the List of Statements of Auditing Standards below.

List of Statements of Auditing Standards

Pre-clarified Statements on Auditing Standards

No.Official titleIssued on
1Codification of Auditing Standards and Procedures full-textNovember 1972
2Reports on Audited Financial Statements full-textOctober 1974
3The Effects of EDP on the Auditor’s Study and Evaluation of Internal Control full-textDecember 1974
4Quality Control Considerations for a Firm of Independent Auditors full-textDecember 1974
5The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" in the Independent Auditor's Report full-textJuly 1975
6Related Party Transactions full-textJuly 1975
7Communications Between the Predecessor and Successor Auditors full-textOctober 1975
8Other Information in Documents Containing Audited Financial Statements full-textDecember 1975
9The Effect of an Internal Audit Function on the Scope of the Independent Auditor's Examination full-textDecember 1975
10Limited Review of Interim Financial Information full-textDecember 1975
11Using the Work of a Specialist full-textDecember 1975
12Inquiry of a Client's Lawyer Concerning Litigation, Claims, and Assessments full-textJanuary 1976
13Reports on a Limited Review of Interim Financial Information full-textMay 1976
14Special Reports full-textDecember 1976
15Reports on Comparative Financial Statements full-textDecember 1976
16The Independent Auditor's Responsibility full-textJanuary 1977
17Illegal Acts by Clients full-textJanuary 1977
18Unaudited Replacement Cost-Information full-textMay 1977
19Client Representations full-textJune 1977
20Required Communication of Material Weaknesses in Internal Accounting Control full-textAugust 1977
21Segment Information full-textDecember 1977
22Planning and Supervision full-textMarch 1978
23Analytical Review Procedures full-textOctober 1978
24Review of Interim Financial Information full-textMarch 1979
25The Relationship of Generally Accepted Auditing Standards to Quality Control Standards full-textNovember 1979
26Association with Financial Statements full-textNovember 1979
27Supplementary Information Required by the Financial Accounting Standards Board full-textDecember 1979
28Supplementary Information on the Effects of Changing Prices full-textJune 1980
29Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents full-textJuly 1980
30Reporting on Internal Accounting Control full-textJuly 1980
31Evidential Matter full-textAugust 1980
32Adequacy of Disclosure of Financial Statements full-textOctober 1980
33Supplementary Oil and Gas Reserve Information full-textOctober 1980
34The Auditor's Considerations When a Question Arises About and Entity's Continued Existence full-textMarch 1981
35Special Reports-Applying Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement full-textApril 1981
36Review of Interim Financial Information full-textApril 1981
37Filings Under Federal Securities Statutes full-textApril 1981
38Letters for Underwriters full-textApril 1981
39Audit Sampling full-textJune 1981
40Supplementary Mineral Reserve Information full-textFebruary 1982
41Working Papers full-textApril 1982
42Reporting on Condensed Financial Statements and Selected Financial Data full-textSeptember 1982
43Omnibus Statement on Auditing Standards full-textAugust 1982
44Special-Purpose Reports on Internal Accounting Control at Service Organizations full-textDecember 1982
45Omnibus Statement on Auditing Standards-1983 full-textAugust 1983
46Consideration of Omitted Procedures After the Report Date full-textSeptember 1983
47Audit Risk and Materiality in Conducting an Audit full-textDecember 1983
48The Effects of Computer Processing on the Audit of Financial Statements full-textJuly 1984
49Letters for Underwriters full-textSeptember 1984
50Reports on the Application of Accounting Principles full-textJuly 1986
51Reporting on Financial Statements Prepared for Use in Other Countries full-textJuly 1986
52Omnibus Statement on Auditing Standards-1987 full-textApril 1988
53The Auditor's Responsibility to Detect and Report Errors and Irregularities full-textApril 1988
54Illegal Acts by Clients full-textApril 1988
55Consideration of Internal Control in a Financial Statement Audit full-textApril 1988
56Analytical Procedures full-textApril 1988
57Auditing Accounting Estimates full-textApril 1988
58Reports on Audited Financial Statements full-textApril 1988
59The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern full-textApril 1988
60Communication of Internal Control Related Matters Noted in an Audit full-textApril 1988
61Communication With Audit Committees full-textApril 1988
62Special Reports full-textApril 1989
63Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance full-textApril 1989
64Omnibus Statement on Auditing Standards-1990 full-textDecember 1990
65The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements full-textApril 1991
66Communication of Matters About Interim Financial Information Filed or to Be Filed with Special Regulatory Agencies-An Amendment to SAS No. 36: Review of Interim Financial Information full-textJune 1991
67The Confirmation Process full-textNovember 1991
68Compliance Auditing Considerations in Audits of Governmental Financial Assistance full-textDecember 1991
69The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" full-textJanuary 1992
70Service Organizations full-textApril 1992
71Interim Financial Information full-textMay 1992
72Letters for Underwriters and Certain Other Requesting Parties full-textFebruary 1993
73Using the Work of a Specialist full-textJuly 1994
74Compliance Auditing Considerations in Audits of Governmental Financial Assistance full-textFebruary 1995
75Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement full-textSeptember 1995
76Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties full-textSeptember 1995
77Amendments to Statements on Auditing Standards No. 22: Planning and Supervision, No. 59: The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, and No. 62: Special Reports full-textNovember 1995
78Consideration of Internal Control in a Financial Statement Audit: An Amendment to Statement on Auditing Standards No. 55 full-textDecember 1995
79Amendment to Statement on Auditing Standards No. 58: Reports on Audited Financial Statements full-textDecember 1995
80Amendment to Statement on Auditing Standards No. 31: Evidential Matter full-textDecember 1996
81Auditing Investments full-textDecember 1996
82Consideration of Fraud in a Financial Statement Audit full-textFebruary 1997
83Establishing an Understanding With the Client full-textOctober 1997
84Communications Between the Predecessor and Successor Auditors full-textOctober 1997
85Management Representations full-textNovember 1997
86Amendments to Statements on Auditing Standards No. 72: Letters for Underwriters and Certain Other Requesting Parties full-textMarch 1998
87Restricting the Use of the Auditor's Report full-textSeptember 1998
88Service Organizations and Reporting on Consistency full-textDecember 1999
89Audit Adjustments full-textDecember 1999
90Audit Committee Communications full-textDecember 1999
91Federal GAAP Hierarchy full-textApril 2000
92Auditing Derivative Instruments, Hedging Activities, and Investments in Securities full-textSeptember 2000
93Omnibus Statement on Auditing Standards-2000 full-textOctober 2000
94The Effect of Information Technology on the Auditor's Consideration of Internal Control in a Financial Statement Audit full-textMay 2001
95Generally Accepted Auditing Standards full-textDecember 2001
96Audit Documentation full-textJanuary 2002
97Amendment to Statement on Auditing Standards No. 50: Reports on the Application of Accounting Principles full-textJune 2002
98Omnibus Statement on Auditing Standards-2002 full-textSeptember 2002
99Consideration of Fraud in a Financial Statement Audit full-textOctober 2002
100Interim Financial Information full-textNovember 2002
101Auditing Fair Value Measurements and Disclosures full-textJanuary 2003
102Defining Professional Requirements in Statements on Auditing Standards full-textDecember 2005
103Audit Documentation full-textDecember 2005
104Amendment to Statement on Auditing Standards No. 1: Codification of Auditing Standards and Procedures (Due Professional Care in the Performance of Work) full-textFebruary 2006
105Amendment to Statement on Auditing Standards No. 95: Generally Accepted Auditing Standards full-textFebruary 2006
106Audit Evidence full-textFebruary 2006
107Audit Risk and Materiality in Conducting an Audit full-textFebruary 2006
108Planning and Supervision full-textFebruary 2006
109Understanding the Entity and its Environment and Assessing the Risks of Material Misstatements full-textFebruary 2006
110Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained full-textFebruary 2006
111Amendment to Statement on Auditing Standards No. 39: Audit Sampling full-textFebruary 2006
112Communicating Internal Control Related Matters Identified in an Audit full-textMay 2006
113Omnibus 2006 full-textNovember 2006
114The Auditor’s Communication With Those Charged With Governance full-textDecember 2006
115Communicating Internal Control Related Matters Identified in an Audit full-textOctober 2008
116Interim Financial Information full-textFebruary 2009
117Compliance Audits full-textDecember 2009
118Other Information in Documents Containing Audited Financial StatementsFebruary 2010
119Supplementary Information in Relation to the Financial Statements as a WholeFebruary 2010
120Required Supplementary InformationFebruary 2010
121Revised applicability of statement on auditing standards no. 100, Interim financial informationFebruary 2011

Clarified Statements on Auditing Standards

SAS No. 122, Clarification and Recodification, contains the Preface to Codification of Statements on Auditing Standards, Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards, and 39 clarified SASs. This statement recodifies and supersedes all outstanding SASs through No. 121 except

  • SAS No. 51, Reporting on Financial Statements Prepared for Use in Other Countries;
  • SAS No. 59, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern, as amended;
  • SAS No. 65, The Auditor’s Consideration of the Internal Audit Function in an Audit of Financial Statements;
  • SAS No. 87, Restricting the Use of an Auditor’s Report; and
  • the following clarified SASs that were issued to address practice issues timely and are already effective:
    • SAS No. 117, Compliance Audits (issued December 2009);
    • SAS No. 118, Other Information in Documents Containing Audited Financial Statements (issued February 2010);
    • SAS No. 119, Supplementary Information in Relation to the Financial Statements as a Whole (issued February 2010); and
    • SAS No. 120, Required Supplementary Information (issued February 2010).

SAS No. 122 also withdraws SAS No. 26, Association With Financial Statements, as amended.

The AICPA is the source of the most up-to-date information.

No.Official titleIssued onCurrent status
122Clarification and recodificationOctober 2011In effect
123Omnibus statement on auditing standardsOctober 2011In effect
124Financial statements prepared in accordance with a financial reporting framework generally accepted in another countryOctober 2011In effect
125Alert that restricts the use of the auditor's written communicationDecember 2011In effect
126Auditor's consideration of an entity's ability to continue as a going concern (redrafted)July 2012In effect
127Omnibus statement on auditing standards - 2913January 2013In effect
128Using the work of internal auditorsFebruary 2014In effect
129Amendment to statement on auditing standards no. 122 section 920, Letters for underwriters and certain other requesting parties, as amendedJuly 2014In effect
130Audit of internal control over financial reporting that is integrated with an audit of financial statementsOctober 2015In effect
131Amendment to Statement on auditing standards no. 122, Section 700, Forming an opinion and reporting on financial statementsJanuary 2016In effect
132The Auditor's Consideration of an Entity’s Ability to Continue as a Going ConcernFebruary 2017In effect
133Auditor Involvement With Exempt Offering DocumentsJuly 2017In effect
134Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial StatementsMay 2019In effect
135Omnibus Statement on Auditing Standards—2019May 2019In effect
136Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISAJuly2019In effect
137The Auditor’s Responsibilities Relating to Other Information Included in Annual ReportsJuly 2019In effect
138Amendments to the Description of the Concept of MaterailityDecember 2019In effect
139Amendments to AU-C Sections 800, 805, and 810 to Incorporate Auditor Reporting Changes From SAS No. 134March 2020In effect
140Amendments to AU-C Sections 725, 730, 930, 935, and 940 to Incorporate Auditor Reporting Changes From SAS Nos. 134 and 137April 2020In effect
141Amendment to the Effective Dates of SAS Nos. 134–140May 2020In effect
142Audit EvidenceJuly 2020In effect
143Auditing Accounting Estimates and Related DisclosuresJuly 2020In effect
144Amendments to AU-C Sections 501, 540, and 620 Related to the Use of Specialists and the Use of Pricing Information Obtained From External Information SourcesJune 2021In effect
145Understanding the Entity and Its Environment and Assessing the Risks of Material MisstatementOctober 2021Effective for audits ending on or after December 15, 2023
146Quality Management for an Engagement Conducted in Accordance With Generally Accepted Auditing StandardsJune 2022Effective for engagements conducted in accordance with GAAS for periods beginning on or after December 15, 2025

Codification of Statements on Auditing Standards

The American Institute of Certified Public Accountants began codifying the Statements on Auditing standards semiannually in 1976. The Codification of Statements on Auditing Standards is generally issued in January, and the U.S. Auditing Standards is issued as part of the AICPA Professional Standards in June of each year. The current U.S. Auditing Standards are available at the AICPA's Web site. Below is a list of older codifications from the Professional Standards.

DateOfficial titleIssued on
1976AICPA Professional Standards: Auditing as of July 1, 1976 full-textJuly 1, 1976
1977AICPA Professional Standards: Auditing as of July 1, 1977 full-textJuly 1, 1977
1978AICPA Professional Standards: Auditing as of July 1, 1978 full-textJuly 1, 1978
1979AICPA Professional Standards: Auditing as of July 1, 1979 full-textJuly 1, 1979
1980AICPA Professional Standards: Auditing as of June 1, 1980 full-textJune 1, 1980
1981AICPA Professional Standards: Auditing as of June 1, 1981 full-textJune 1, 1981
1982AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1982 full-textJune 1, 1982
1983AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1983 full-textJune 1, 1983
1984AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1984 full-textJune 1, 1984
1985AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1985 full-textJune 1, 1985
1986AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1986 full textJune 1, 1986
1987AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1987 full-textJune 1, 1987
1988AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1988 full-textJune 1, 1988
1989AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1989 full-textJune 1, 1989
1990AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1990 full-textJune 1, 1990
1991AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1991 full-textJune 1, 1991
1992AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1992 full-textJune 1, 1992
1993AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1993 full-textJune 1, 1993
1994AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1994 full-textJune 1, 1994
1995AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1995 full-textJune 1, 1995
1996AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1996 full-textJune 1, 1996
1997AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1997 full-textJune 1, 1997
1998AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1998 full-textJune 1, 1998
1999AICPA Professional Standards: U.S. Auditing Standards as of June 1, 1999 full-textJune 1, 1999
2000AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2000 full-textJune 1, 2000
2001AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2001 full-textJune 1, 2001
2002AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2002 full-textJune 1, 2002
2003AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2003 full-textJune 1, 2003
2004AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2004 full-textJune 1, 2004
2005AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2005 full-textJune 1, 2005
2006AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2006 full-textJune 1, 2006
2007AICPA Professional Standards: U.S. Auditing Standards as of June 1, 2007 full-textJune 1, 2007

See also

Notes

  1. AICPA Operating Policies, pg. 1

References

Primary sources

Secondary sources

  • Mark S. Beasley, Joseph V. Carcello (2006), GAAS Guide 2007, CCH (publisher), ISBN 9780471798309
  • Don M. Pallais, Cheryl Hartfield, Mary Lou Wurdack (2006); PPC's Guide to GAAS 2007, Practitioners Publishing Company, ISBN 978-0-7646-4188-6
  • Michael J. Ramos (2006), Wiley Practitioner's Guide to GAAS 2007: Covering all SASs, SSAEs, SSARSs, and Interpretations, Wiley Publishing, ISBN 9780471798309
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