Auditing and Financial Management:
February 17, 2009, letter commenting on the AICPA ASB's November 2008 Exposure Draft for a proposed Statement on Auditing Standards (SAS) entitled, "Audit Considerations Relating to an Entity Using a Service Organization (Redrafted)"
Feb 17, 2009
This letter provides the U.S. Government Accountability Office's (GAO) comments on the American Institute of Certified Public Accountants (AICPA) Auditing Standards Board's (ASB) proposed Statement on Auditing Standards (SAS) on audit considerations relating to reporting on controls at a service organization. Generally, we support the proposed statement and the related proposed Statement on Standards for Attestation Engagements. We believe that addressing the needs of service and user auditors and their respective clients separately adds much-needed clarity in this area of practice.