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Statements on Auditing Procedure October 1942 No. 12 • Issued by the Committee on Auditing Procedure, American Institute of Accountants, 13 East 41st Street, New York 17, N. Y. Copyright 1942 by American Institute of Accountants Amendment to Extensions of Auditing Procedure FOREWORD IN MAY, 1942, the committee on auditing procedure of the Ameri-can Institute of Accountants issued a supplementary report to the council in which the committee recommended an amendment to the report, "Extensions of Auditing Procedure," approved at the annual meeting of the Institute on September 19, 1939.1 The council approved this supplementary report with the understanding that it would subsequently come before the annual meeting of the Institute. It was presented at the annual meeting in Chicago on October 1, 1942, and was formally approved. The report follows. On September 19, 1939, at the annual meeting of the American Institute of Accountants, the membership approved suggestions of the special committee on auditing procedure as to extensions of auditing procedure, particularly with regard to examination of in-ventory quantities and confirmation of receivables, contained in a report entitled "Extensions of Auditing Procedure." The report also discussed certain phases of the independent public accountant's report or opinion. It stated, in part, as follows: "It is the responsibility of the accountant—and one which he cannot escape—to determine the scope of the examination which he should make before giving his opinion on the statements under review. If in his judgment it is not practicable and reasonable in the circumstances of a given engagement to undertake the audit-ing procedures regarding inventories and/or receivables set forth in this report as generally accepted procedure and he has satisfied SUPPLEMENTARY REPORT OF THE COMMITTEE ON AUDITING PROCEDURE 1 Statements on Auditing Procedure No. 1. 87
Object Description
Title |
Amendment to Extensions of auditing procedure |
Author | American Institute of Accountants. Committee on Auditing Procedure |
Contributor |
Broad, Samuel J. Aitken, J. N. Brundage, Percival F. Duncombe, Fred J. Ellis, George P. Glover, P. W. R. Keast, George R. Knight, Paul K. Kracke, Edward Augustus Lindquist, John A. Main, Frank Wilbur Mayo, Ralph B. Stempf, Victor H. Carey, John L, 1904- |
Subject |
Auditing -- Standards -- United States |
Citation |
Statements on auditing procedure, No. 12 |
Date-Issued | 1942 |
Source | Originally published by: American Institute of Accountants |
Rights | Copyright held by and permission to reprint: American Institute of Certified Public Accountants |
Type | Text |
Format | PDF page image with corrected OCR scanned at 400 dpi |
Collection | Deloitte Digital Collection |
Digital Publisher | University of Mississippi Library. Accounting Collection |
Date-Digitally Created | 2010 |
Language | eng |
Identifier | sap 12 |