[marie22]

Hello! I know this may be a really obvious question, but I’m still a tad bit confused on when to use PCAOB standards vs when to use the AU-C standards. The way I understand it is that PCAOB standards are used for issuing companies and AU-C are used for both issuers and non-issuers.

So issuing companies use AU-C standards plus whatever extra standards are laid out in PCAOB standards?

AUD: 91.
BEC: 69, 81
REG: 83 (expired), 79
FAR: 59, 77

I'M FINALLY DONE!!!!!

[mjp44]

I have similar confusion. The way i understand it is audits of non-issuing companies follow the Statements of Auditing Standards(SAS) – issued by AICPA. Audits of issuer companies follow PCAOB (SEC) which supersedes SAS.

Therefore, Non-issuer standards fall under AU-C and Issuer standards fall under PCAOB.

My confusion is I dont believe I have come across an option for PCAOB when doing practice research questions with Becker. Are we only tested on the AL for non-issuing company audits?

Also, does GAAS = SAS?

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[NYCaccountant]

The thing is that the PCOAB standards adopted the Auditing standards when they Sarbanes Oxley was created, so the PCAOB includes both. The difference is the PCOAB adopted the standards and ethics and then added additional standards and ethics as well.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[xn25drexel]

Hope this help: PCAOB standards and AICPA standards applied in the following situation:

-Compilation only for non-issuers: follow SSARS issued by AICPA

-Review for non-issuers: follows SSARS issued by AICPA

-Review interim financial statement for issuers: follows PCAOB

-Review interim financial statement for non- issuers: follows SAS by AICPA

-Audit issuers: PCABO

-Audit non-issuers: follows SAS by AICPA

If you guys are using Becker it is on Auditing#2-Page 66

[Author]

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