Clients Enhanced Formal Communications Project

Enhanced Formal Communications Project

COM/530

Instructor:

Memorandum

|To: |All Accountants |

|From: |Learning Team A |

|cc: |Senior Accountant Managers |

|Date: |September 6, 2014 |

|Re: |The New Statement Of Accounting Standards (SAS 112) Regulation |

| | |

The purpose of this memorandum is to discuss the following changes that were to the SAS 112 Regulation for Accounting Standards. These rules and rules and regulations are required and all auditors and accountants must follow them. Changes have been made regarding the rules auditors must follow.  We will be communicating and identifying all internal control related matters that is used in an audit issued by the American Institute of Certified Public Accountants (AICPA).  

All upper management considers SAS No. 112 a requirement of the accounting standard to know, understand, and communicate effectively and efficiently. SAS No. 112 establishes standards and provides guidance on communicating matters related to an entity’s internal control over financial reporting identified in an audit of financial statements (American Institute of Certified Public Accountants, 2011).   I understand that we all are familiar with SAS No. 112 in which it replaces SAS No. 60 are in fact very knowledgeable for...