Resulting from its Clarity Project, the AICPA Auditing Standards Board (ASB) issued SAS No. 123, Omnibus Statement on Auditing Standards—2011.
SAS No. 123:
Amends AU-C section 720, Other Information in Documents Containing Audited Financial Statements (issued in 2010), and AU-C section 935, Compliance Audits (issued in 2009), in AICPA Professional Standards to conform these standards SAS No. 122, Statements on Auditing Standards: Clarification and Recodification. (Note: SAS No. 137, The Auditor’s Responsibilities Relating to Other Information Included in