Proposed SAS on Communication of Internal Control Released for Comment

CPA Letter, The, September, 2005 by Anonymous

The Auditing Standards Board has issued an exposure draft of a proposed Statement on Auditing Standards that would supersede SAS No. 60, Communication of Internal Control Related Matters Noted in an Audit. Comments on the exposure draft are due Oct. 31, 2005.

Also, accompanying the exposure draft is a document entitled "A Framework for Evaluating Control Deficiencies," designed to assist auditors in applying the proposed SAS by providing guidance on evaluating the significance of control deficiencies in various situations. The document is not a part of the proposed SAS; however, the ASB is seeking input from readers regarding whether the document is helpful in applying the SAS, and whether it should be included as a permanent appendix to the SAS.

To view the exposure...

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