Avoiding Three Recurrent Failures to Comply with Auditing Standards

With many of our CPEA members preparing and issuing reports on financial statements at this time of year, we bring attention to recurring mistakes, or more precisely, recuring noncompliance with the professional literature, related to auditor reporting and other requirements introduced by Statement on Auditing Standards (SAS) 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements. SAS 134 became effective for audits of financial statements for periods ending on or after December 15, 2020.