The AICPA’s Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) 148, Amendments to AU-C Section 935. The full text of SAS 148 can be found here. AU-C 935, Compliance Audits, addresses the application of generally accepted auditing standards (GAAS) to a compliance audit. SAS 148 amends AU-C 935 to address conforming changes and update the appendix “AU-C Sections That Are Not Applicable to Compliance Audits” to reflect the issuance of the following SASs:
• SAS 142, Audit Evidence (AU-C 500)
• SAS 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (AU-C 315)