You are a junior accountant at a small accounting firm. A partner of the firm has asked you to communicate the new SAS 112 (Statement of Accounting Standards)—rules auditors have to follow—regulation to certain groups and how this change would affect them. He has asked you to create and submit a material that include the following component:
Write a brief, one—page (250-word) memo for the bookkeepers of the firm’s clients.
Research SAS 112 on accounting auditors from the American Institute of CPAs (AICPA) website.
Research SAS 115 on accounting auditors from the AICPA website
Use the following sources as much as possible:
Controls, Accountability and Risk Management (2010), Statement on Auditing Standards No. 115, Retrieved January 27, 2012, from www.controller.berkley.edu
Coram, P & Mock, T. Statements on Auditing Standards. Current Issues in Auditing Volume 4 (1). Page A-1. Retrieved January 27, 2012, from Proquest database.
Gavin T. A. (Sep/Oct 2009). Internal Control Assessments Improve Transparency of Private Company Reporting. Commercial Lending Review Riverwoods. Volume 24, Issue 5; p. 29
Lesikar, R. V., Flatley, M. E., Rentz, K., & Lesikar, R. V. (2008). Business communication:making connections in a digital world. Boston: McGraw-Hill/Irwin.
Ryan, T.J. (2009). Time to Start Thinking about Implementing SAS 115. Pennsylvania CPA Journal, 80(3), 1-2.
Ryan, T. (2009). Time to start Thinking about Implementing SAS 115. Pennsylvania CPA Journal, Volume 80(3) page 4-7. Retrieved from Proquest database.
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