The primary objective of the GAAS Practice Manual is to provide a complete, quick and valuable reference source for the practitioner of the currently effective pronouncements of Statements on Auditing Standards, Statements on Standards for Attestation Engagements, Statements on Standards on Accounting and Review Services, and the new PCAOB Auditing Standards--and the interpretations of those standards.

Although the Sections in this book follow the sequence of sections presented in the AICPA's Professional Standards, the material is presented and analyzed in a different format. Each Section is divided into three major parts:

1.      What Every Practitioner Should Know--which discusses the specific standard, its basic requirement and the practitioner's essential responsibilities.

2.      Practice Issues and Frequently Asked Questions--which focuses on techniques for applying the standard by using a Q&A format.

3.      Illustrations and Practice Aids--which includes checklists, questionnaires, sample working papers, sample correspondence, and sample accountant's reports.

The GAAS Practice Manual meets accounting industry standards overseen by the AICPA's peer review system and contains a document covering the peer review of this book.

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

Benefits and Features

Ease of use:

-Many of the illustrations and practice aids in the book appear on the free, companion CD-ROM that comes with GAAS Practice Manual.

-The adaptable sample letters, reports and checklists found in the text can be printed and customized to meet all of your auditing needs.

-The Manual includes a cross-reference to the original pronouncements chart and a detailed topical index.

Lastest Information:

Updated for new pronouncements through the issuance of SAS-114 (The Auditor's Communication with Those Charged with Governance).

Contains Appendices covering:

-The all-important Sarbanes-Oxley Act of 2002 to help familiarize auditors with the major provisions

-The PCAOB Auditing Standards.

-Current through the following pronouncements:

-SAS-114 (The Auditor's Communication with Those Charged with Governance)

-SSAE-14 (SSAE Hierarchy)

-SSARS-14 (Compilation of Pro Forma Financial Information)

-PCAOB Auditing Standard No. 4 (Reporting on Whether a Previously Reported Material Weakness Continues to Exist)

Topics and Contents

AU 100: Introduction

AU 200: General Standards

AU 300: the Standards of Field Work

AU 400: the First, Second, and Third Standards of Reporting

AU 500: the Fourth Standard of Reporting

AU 600: Other Types of Reports

AU 700: Special Topics

AU 800: Compliance Auditing

AU 900: Special Reports of the Committee on Auditing Procedure

AT Section: Statements on Standards for Attestation Engagements

AR Section: Statements on Standards for Accounting and Review Services