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GAAS Guide, with CD (2013)

GAAS Guide, with CD (2013)

Name: GAAS Guide, with CD (2013)
Brand: CCH U.S.
SKU: 9780808029472
Price: 2395.90 HKD
Availability: OutOfStock
Author: Joseph V. Carcello; Mark S. Beasley
ISBN: 9780808029472

Edited by Joseph V. Carcello · Mark S. Beasley

CCH U.S. June 2012

Specifications

ISBN-13: 9780808029472
Publisher: CCH U.S.
Publication: June 2012
Format: Paperback + CD-ROM , 960 pages
Jurisdiction: U.S. ? Countri(es) for reference only

Details

The GAAS Guide (2013)describes today's engagement standards, practices, and procedures in use today, including Statements on Auditing Standards (SASs), Statements on Standards for Attestation Engagements (SSAEs), and Statements on Standards on Accounting and Review Services (SSARSs) and their relationship to the PCAOB's standards. The latest interpretations of all the standards are also included. Most importantly, it has been updated to reflect changes in auditing standards and the related Codification of Statements on Auditing Standards resulting from the Auditing Standards Board’s Clarity and Convergence Project.

The book is organized to follow the arrangement of the AICPA's Professional Standards. Each section begins with a list of authoritative pronouncements and an Overview. A Promulgated Procedures Checklist identifies the essential professional responsibilities that must be satisfied in each phase of an engagement followed by an Analysis and Application of Reporting Standards, which explains how each specific promulgated procedure should be applied. Practitioner's Aids provide additional guidance on how to apply the promulgated standards to specific engagements.

Throughout the book Risk Assessment Points, Engagement Strategies, Planning Aid Reminders, and Observations provide helpful, practical tips. Fraud Pointers alert practitioners to issues affecting auditor responsibility for fraud and fraud risks throughout the audit engagement. To keep CPAs abreast of potential changes affecting AICPA professional standards, this edition contains new overviews of outstanding exposure drafts, which highlight key elements of possible changes to existing professional standards.

The sample letters, reports, and checklists found in the text are included on a CD-ROM that accompanies the book and can be printed and customized to meet all of your auditing needs.

The GAAS Guide meets accounting industry standards as overseen by the AICPA's peer review system (the book reproduces a letter by the book's peer reviewer).

This book can be used in conjunction with the GAAS Update Service.

The 2013 Edition includes coverage of the following:

SAS-122 (essentially all AU sections) (Clarification and Recodification), issued in October 2011
SAS-123 (AU 200, AU 230, AU 260, AU 705, AU 720, AU 915, and AU 935) (Omnibus Statement on Auditing Standards — 2011), issued in October 2011
SAS-124 (AU 910) (Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country), issued in October 2011
SAS-125 (AU 905) (Alert that Restricts the Use of the Auditor’s Written Communication), issued in December 2011
SSAE-17 (AT 301) (Reporting on Compiled Prospective Financial Statements When the Practitioner’s Independence is Impaired)
SSARS-20 (Revised Applicability of Statements on Standards for Accounting and Review Services)

SAS-122 is particularly noteworthy as it represents the culmination of the ASB’s efforts to clarify the auditing standards and to largely converge its standards with the standards of the International Auditing and Assurance Standards Board. As such, SAS-122 supersedes most of the existing auditing standards and recodifies the clarified and converged standards in one place (essentially similar to the design of SAS-1 many years ago). In addition, as part of its efforts, the ASB has issued these new standards using a new codification numbering sequence. We adopt this new numbering sequence in this year’s Guide.

AU 200: General Principles and Responsibilities
AU 300: Risk Assessment and Response to Assessed Risks
AU 500: Audit Evidence
AU 600: Using the Work of Others
AU 700: Audit Conclusions and Reporting
AU 800: Special Considerations
AU 900: Special Considerations in the United States
AT Section: Statements on Standards for Attestation Engagements
AR Section: Statements on Standards for Accounting and Review Services

About the Author

Joseph V. Carcello, Ph.D., CPA, CMA, CIA, is a William B. Stokely Distinguished Scholar and a Professor in the Department of Accounting and Information Management at the University of Tennessee. Dr. Carcello has published more than 40 articles in academic and professional journals. He is the co-author of a funded research study by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission titled Fraudulent Financial Reporting: 1987-1997, An Analysis of U.S. Public Companies. Dr. Carcello also is the co-author of a research monograph published by the AICPA’s Auditing Standards Board titled Fraud-Related SEC Enforcement Actions Against Auditors: 1987-1997.

Dr. Carcello has taught continuing professional education courses for two of the Big 4 accounting firms, the AICPA, the Institute of Internal Auditors, the Institute of Management Accountants, and the Tennessee and Florida Societies of CPAs. He was a member of the Independence Standards Board’s Task Force on Accepting Employment with an Audit Client. Dr. Carcello currently serves on the Institute of Internal Auditors’ Board of Research Advisors.

Mark S. Beasley is the Deloitte Professor of Enterprise Risk Management and Professor of Accounting in the Department of Accounting at North Carolina State University, in Raleigh, N.C., where he teaches auditing courses in the undergraduate and masters programs. He currently serves as a member of the COSO Board. Dr. Beasley received a BS in accounting from Auburn University and a Ph.D. from Michigan State University.

He is a Certified Public Accountant (CPA) in North Carolina and has worked in public accounting, where he was an Audit Manager with Ernst & Young. Dr. Beasley also worked as a Technical Manager with the AICPA’s Auditing Standards Division, in New York City. He is a member of the American Institute of Certified Public Accountants, the American Accounting Association, the Institute of Internal Auditors, and the Association of Certified Fraud Examiners. Dr. Beasley also serves as Director of North Carolina State University’s Enterprise Risk Management Initiative, which provides thought leadership on enterprise risk management and its integration with strategy planning and governance.

Dr. Beasley

He recently served on COSO’s Enterprise Risk Management project Advisory Council and the AICPA’s Antifraud Programs and Controls Task Force. He has previously served on Auditing Standards Board task forces, including the SAS No. 99 Fraud Task Force. Dr. Beasley is the co-author of several continuing education courses, an auditing textbook, and an auditing casebook.