SAS No. 114 Issued on Communications Regarding Governance

CPA Letter, The, February, 2007 by Anonymous

Statement on Auditing Standards No. 114, The Auditor's Communication With Those Charged With Governance (No. 060709CPA02), has been issued by the Auditing Standards Board. This SAS replaces SAS No. 61, Communication With Audit Committees, as amended. The new SAS establishes standards and provides guidance to an auditor on matters to be communicated with those charged with governance. SAS No. 114 applies to audits of all non-issuer financial statements. The SAS is effective for periods beginning on or after Dec. 15, 2006.

For a summary, go to www.aicpa.org/download/members/ div/auditstd/riasai/Recently_Issued_Standards_SAS_No_114.pdf. To order the statement, see purchase information on page 9 (prices: $19 member/$23.75 non-member).