The Exposure Draft, Proposed SAS External Confirmations, proposes changes to various AU-C sections in AICPA Professional Standards, but primarily to
AU-C section 330, Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained
AU-C section 500, Audit Evidence
AU-C section 505, External Confirmations
The ASB believes that the proposed amendments will enhance audit quality for audits of financial statements of nonissuers in an effective and efficient manner. The comment period ends June 30.