June 26, 2008, letter commenting on the AICPA's April 2008 exposure draft:
Proposed Statement on Auditing Standards No. 114 (Redrafted), "The Auditor's Communication with Those Charged with Governance"
Published: Jun 26, 2008. Publicly Released: 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. 114. Overall, we support the proposed revisions to the standard, which we believe will help improve the consistency of practice related to auditor communication with those charged with governance.