Wiley Practitioner's Guide to GAAS 2008: Covering all SASs, SSAEs, SSARSs, and Interpretations » (REV)

In the first phase of his career, Michael Ramos was an auditor in the Los Angeles office of KPMG. He left the firm in 1991, and since that time he has worked as an independent writer and consultant, primarily on auditing. He has written a variety of publications, including nonauthoritative3 practice aids, implementation guides and authoritative AICPA Audit and Accounting Guides. He is the author, most recently, of How to Comply with Sarbanes-Oxley Section 404: Assessing the Effectiveness of Internal Control and The Sarbanes-Oxley 404 Implementation Toolkit: Practice Aids for Mangers and Auditors. He is now a vice president at AuditWatch.

The clearest, easiest-to-use guide to understanding GAAS 2008 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 2008 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, Wiley Practitioner's Guide to GAAS 2008 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 through-out a standard
* ehind-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 andadvisories
* Helpful techniques for remaining compliant with each standard

New in GAAS 2008!
* SAS No. 113 Omnibus-2006
* SAS No. 114 The Auditor's Communication with Those Charged with Governance ? (section) 380
* More guidance on the Risk Assessment Standards
* Tips and examples for communicating internal control matters
* Updated guidance from the PCAOB
* And more

Preface     vii
Summary of Key Changes     xi
100-230 The Auditor's Responsibilities and Functions, Introduction to GAAS and the General Standards     1
310 Appointment of the Independent Auditor     11
312 Audit Risk and Materiality in Conducting an Audit     22
315 Communications between Predecessor and Successor Auditors     37
316 Consideration of Fraud in a Financial Statement Audit     45
317 Illegal Acts by Clients     71
318 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement     76
322 The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements     99
324 Service Organizations     110
325 Communication of Internal Control Related Matters Noted in an Audit     125
326 Evidential Matter     137
327 Performing Procedures     143
328 Auditing Fair Value Measurements and Disclosures     162
329 Analytical Procedures     170
330 The Confirmation Process     185
331 Inventories     199
332 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities     210
333 Management Representations     225
334 Related Parties     239
336 Using the Work of a Specialist     251
337 Inquiry of Client's Lawyer Concerning Litigation, Claims, and Assessments     262
339 Audit Documentation     276
341 The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern     287
342 Auditing Accounting Estimates     300
350 Audit Sampling     307
380 The Auditor's Communication with Those Charged with Governance     329
390 Consideration of Omitted Procedures After the Report Date     338
410/411 Adherence to GAAP (410) and the Meaning of "Present Fairly in Conformity with GAAP" (411)     344
420 Consistency of Application of Generally Accepted Accounting Principles     353
431 Adequacy of Disclosure in Financial Statements     359
504 Association with Financial Statements     361
508 Reports on Audited Financial Statements     368
530 Dating of the Independent Auditor's Report     397
532 Restricting the Use of an Auditor's Report     402
534 Reporting on Financial Statements Prepared for Use in Other Countries     405
543 Part of Audit Performed by Other Independent Auditors     410
544 Lack of Conformity with Generally Accepted Accounting Principles     421
550 Other Information in Documents Containing Audited Financial Statements     423
551 Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents     431
552 Reporting on Condensed Financial Statements and Selected Financial Data     440
558 Required Supplementary Information     447
560 Subsequent Events     453
561 Subsequent Discovery of Facts Existing at the Date of the Auditor's Report     462
623 Special Reports     467
625 Reports on the Application of Accounting Principles     492
634 Letters for Underwriters and Certain Other Requesting Parties     498
711 Filings under Federal Securities Statutes     538
722 Interim Financial Information     545
801 Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance     568
901 Public Warehouses: Controls and Auditing Procedures for Goods Held     575
2101 Attestation Engagements     581
2201 Agreed-upon Procedures Engagements     604
2301 Financial Forecasts and Projections     614
2401 Reporting on Pro Forma Financial Information     639
2501 Reporting on an Entity's Internal Control over Financial Reporting     649
2601 Compliance Attestation     663
2701 Management's Discussion and Analysis (MD&A)     676
3100 Compilation and Review of Financial Statements     683
3110 Compilations of Specified Elements, Accounts, or Items of a Financial Statement     719
3120 Compilation of Pro Forma Financial Information     722
3200 Reporting on Comparative Financial Statements     725
3300 Compilation Reports on Financial Statements Included in Certain Prescribed Forms     732
3400 Communications between Predecessor and Successor Accountants     734
3600 Reporting on Personal Financial Statements Included in Written Personal Financial Plans     738
PCAOB Auditing Standards     740
Cross-References to SASs, SSAEs, and SSARSs     749
List of AICPA Audit and Accounting Guides and Auditing Statements of Position     753
Other Auditing Publications in the GAAS Hierarchy     755
Index     757