June 26, 2008, letter commenting on the AICPA's April 2008 exposure draft:
Proposed Statement on Auditing Standards No. 103 (Redrafted), "Audit Documentation"
Jun 26, 2008
This letter provides the U.S. Government Accountability Office's (GAO) comments on the American Institute of Certified Public Accountants's (AICPA) proposed Statement on Auditing Standards (SAS) No. 103. Generally, we support the proposed revisions to the standard. In particular, we believe that the proposed revisions to SAS No. 103 will help provide clarity and improve consistency of practice related to audit engagement documentation.