Sas Fraud 99

ASB New Releases

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Auditing Standards Board

Statement on Auditing Standards

SAS 99

Consideration of Fraud in a Financial Statement Audit

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(Supersedes Statement on Auditing Standards No. 82, Consideration of Fraud in a Financial Statement Audit, AICPA, Professional Standards, vol. 1, AU sec. 316; and amends SAS No. 1, Codification of Auditing Standards and Procedures, AICPA, Professional Standards, vol. 1, AU sec. 230, "Due Professional Care in the Performance of Work," and SAS No. 85, Management Representations, AICPA, Professional Standards, vol. 1, AU sec. 333.)

October 2002

Issued by the Auditing Standards Board

Copyright © 2002 by American Institute of Certified Public Accountants, Inc. New York, NY 10036-8775

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Consideration of Fraud in a Financial Statement Audit

Supersedes Statement on Auditing Standards No. 82, Consideration of Fraud in a Financial Statement Audit (AICPA, Professional Standards, vol. 1, AU sec. 316); and amends SAS No. 1, Codification of Auditing Standards and Procedures (AICPA, Professional Standards, vol. 1, AU sec. 230, "Due Professional Care in the Performance of Work), and SAS No. 85, Management Representations (AICPA, Professional Standards, vol. 1, AU sec. 333).

INTRODUCTION AND OVERVIEW

1. Statement on Auditing Standards (SAS) No. 1, Codification of Auditing Standards and Procedures (AICPA, Professional Standards, vol. 1, AU sec. 110.02, "Responsibilities and Functions of the Independent Auditor"), states, "The auditor has a...