Using the work and reports of other auditors : (supersedes paragraphs 32 and 36 of chapter 10 of Statement on auditing procedure no. 33);

              STATEMENT ON AUDITING PROCEDURE
JULY 1971
45
Using the Work and Reports of Other Auditors
(Supersedes Paragraphs 32 to 36 of Chapter 10
of Statement on Auditing Procedure No. 33)
1. The purpose of this Statement is to establish guidelines for reporting on financial statements when the independent auditor (referred to herein as the principal auditor) utilizes the work and reports of other independent auditors who have examined the financial statements of one or more subsidiaries, divisions, branches, or other components included in the financial state-ments presented.
Principal Auditor's Course of Action
2. The auditor in this situation may have performed all but a relatively minor portion of the work, or significant parts of the examination may have been performed by other auditors. In the latter case he must decide whether his own participation is suffi-cient to enable him to serve as the principal auditor and to report
Issued by the Committee on Auditing Procedure American Institute of Certified Public Accountants
COPYRIGHT 1971 BY THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS, INC.
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