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Issued by the Auditing Standards Board AICPA American Institute of Certified Public Accountants Consideration of Omitted Procedures After the Report Date 1. This Statement provides guidance on the considerations and procedures to be applied by an auditor who, subsequent to the date of his report on audited financial statements, concludes that one or more auditing procedures considered necessary at the time of the examination in the circumstances then existing were omitted from his examination of the financial statements, but there is no indication that those financial statements are not fairly presented in conformity with generally accepted accounting principles or with another comprehensive basis of accounting. 1 This circumstance should be distinguished from that described in SAS No. 1, section 561, which applies if an auditor, subsequent to the date of his report on audited financial statements, becomes aware that facts regarding those financial statements may have existed at that date that might have affected his report had he then been aware of them. 2. Once he has reported on audited financial statements, an auditor has no responsibility to carry out any retrospective review of his work. However, reports and working papers relating to particular engage- 1The provisions of this Statement are not intended to apply to an engagement in which an auditor's work is at issue in a threatened or pending legal proceeding or regulatory investigation. ( A threatened legal proceeding means that a potential claimant has manifested to the auditor an awareness of, and present intention to assert, a possible claim.) Copyright © by the American Institute of Certified Public Accountants, Inc. 1211 Avenue of the Americas, New York, N. Y. 10036- 8775 1234567890 AudS 89876543 Statement on Auditing Standards September 1983 46