This section provides guidelines for the independent auditor in observing inventories. The section also requires that the auditor exercise professional skepticism and have reasonable assurance that the financial statements are free of material misstatement. This section describes how the auditor must exercise due professional care in the performance of the audit and the preparation of the report. This section describes how the auditor must maintain independence in all matters relating to the audit.ĭue Professional Care in the Performance of Work This section describes the formal education and experience required by the auditor. Training and Proficiency of the Independent Auditor This section describes the nature of the general standards The section also includes distinction between the responsibilities of the auditor and management and the professional qualifications required by the independent auditor. This section describes the responsibilities and functions of the independent auditor. Responsibilities and Functions of the Independent Auditor Consult AU-C exhibit A for a list that cross-references AU sections to AU-C sections. Superseded “AU” sections were deleted from AICPA Professional Standards in December 2013, by which time substantially all engagements for which the “AU” sections were still effective were expected to be completed. 1–121 were recodified and "AU-C" was selected as an identifier in order to avoid confusion with references to superseded "AU" sections. Please refer to the clarified Statements on Auditing Standards for current guidance.Īs part of the clarification of the SASs, the AU section numbers as designated by SAS Nos. 128 are effective for audits of financial statements for periods ending on or after December 15, 2012, and December 15, 2014, respectively. As of February 2014, this effort is complete. To address concerns over the clarity, length, and complexity of its standards, the Auditing Standards Board established clarity drafting conventions and redrafted all its SASs in accordance with those conventions. The following pre-clarity Statements on Auditing Standards (SASs) are superseded and archived for reference purposes only.
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