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STATEMENT ON AUDITING STANDARDS NO. 70.
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- معلومة اضافية
- نبذة مختصرة :
The article provides information on the statement on Auditing Standards No. 70, issued by the Auditing Standards Board, the senior technical body of the American Institute of Certified Public Accountants designated to issue pronouncements on auditing matters. This Statement provides guidance on the factors an independent auditor should consider when auditing the financial statements of an entity that uses a service organization to process certain transactions. This Statement also provides guidance for independent auditors who issue reports on the processing of transactions by a service organization for use by other auditors. When a user organization uses a service organization, transactions that affect the user organization's financial statements are subjected to policies and procedures that are, at least in part, physically and operationally separate from the user organization. If an entity uses a service organization, certain policies, procedures, and records of the service organization may be relevant to the user organization's ability to record, process, summarize, and report financial data consistent with the assertions embodied in the entity's financial statements.
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