Statement on auditing standards, 062

              Special Reports
( Supersedes Statement on Auditing Standards No. 14, AICPA, Professional
Standards, vol. 1, AU sec. 621.)
SUMMARY
This Statement on Auditing Standards ( SAS) changes generally
accepted auditing standards by —
• Prescribing a new special report form that parallels the form of the
auditor's standard report in SAS No. 58, Reports on Audited Finan­cial
Statements.
• Requiring the auditor's special report to state that the financial
statements were prepared in conformity with a comprehensive
basis of accounting other than generally accepted accounting prin­ciples
( GAAP).
• Clarifying that there is no requirement to describe in the auditor's
special report how the presentation differs from a presentation in
conformity with generally accepted accounting principles.
• Clarifying requirements for issuing a special- purpose report on
special or incomplete presentations
• Restricting the distribution of ( a) reports on financial presentations
prepared to comply with a basis of accounting prescribed in a con­tract
or regulatory provision that result in ( 1) presentations that are
not in conformity with GAAP or an other comprehensive basis of
accounting ( OCBOA) or ( 2) incomplete GAAP or OCBOA presenta­tions
( except when the auditor's report and related financial presen­tation
are to be filed with a regulatory agency and included in a
Copyright © 1989 by the
American Institute of Certified Public Accountants, Inc.
1211 Avenue of the Americas, New York, N. Y. 10036- 8775
1234567890 AudS 89
Statement on
Auditing Standards
Issued by the Auditing Standards Board
AICPA
American Institute of Certified Public Accountants
April 1989