Reporting on an entity's internal control over financial reporting : an amendment to Statement on standards for attestation engagements no. 2 : (amends Statement on standards for attestation engagements, no. 1, AICPA professional standards, vol. 1, AT sec. 400.01,.12 through .18, .20, .26, and .27);

              Reporting on an Entity's Internal Control Over Financial Reporting: An Amendment to Statement on Standards for Attestation Engagements No. 2
(Amends Statement on Standards for Attestation Engagements No. 2, AICPA, Professional Standards, vol. 1, AT sec. 400.01, .12 through .18, .20, .26, and .27.)
1. This amendment conforms the description of elements of an entity's internal control to the components of internal control contained in State-ment on Auditing Standards (SAS) No. 78, Consideration of Internal Control in a Financial Statement Audit: An Amendment to SAS No. 55 (AICPA, Professional Standards, vol. 1, AU sec. 319), and Internal Con-trol-Integrated Framework, published by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO report). New lan-guage is shown in boldface italics. References hereinafter to SAS No. 55 are to the amendment to SAS No. 55 included in SAS No. 78. In addition, conforming changes will be made to substitute components for elements and internal control for internal control structure. The amendment is effective for an examination of management's assertion when the assertion is as of or for the period ending on December 15, 1996, or thereafter. Early application of the provisions of this Statement is permitted.
Copyright © 1995 by
American Institute of Certified Public Accountants, Inc., New York, NY 10036-8775
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Statement on Standards for Attestation Engagements
Issued by the Auditing Standards Board
AICPA
American Institute of Certified Public Accountants
December 1995
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