SAS No. 131, Amendment to Statement on Auditing Standards No. 122 Section 700, Forming an Opinion and Reporting on Financial Statements, clarifies the format of the auditor’s report that should be issued when the auditor conducts an audit in accordance the standards of the PCAOB, but the audit is not under the jurisdiction of the PCAOB.
An audit is “under the jurisdiction of the PCAOB” if the auditor is required to be registered with, and subject to inspection by, the