Au Section

The following footnote is effective for audits of fiscal years beginning on or after december 15 2014.

Au section. The au c identifier had been scheduled to revert back to the au identifier at the end of 2013 by which time the previous sections would be superseded for all engagements. As part of the clarity project the au c identifier was established to avoid confusion with references to existing au sections. As part of the clarification of the sass the au section numbers as designated by sas nos.

This section prescribes the nature and extent of the consideration an independent auditor should give to the possibility of illegal acts by a client in an audit of financial statements in accordance with generally accepted auditing standards. Footnotes au section 330 the confirmation process. 1 121 were recodified and au c was selected as an identifier in order to avoid confusion with references to superseded au sections.

Fn 1 bill and hold sales are sales of merchandise that are billed to customers before delivery and are held by the entity for the customers. Fn 1 in certain engagements the auditor also may be subject to other auditing requirements such as government auditing standards issued by the comptroller general of the united states or rules and regulations promulgated by the u s.