SAS No. 138 and SSAE No. 20 At a Glance

The At a Glance about SAS No. 138, Amendments to the Description of the Concept of Materiality, and SSAE No. 20 of the same title, provides a high-level summary about how these standards impact generally accepted auditing standards (GAAS) and the attestation standards by aligning the materiality concepts discussed in AICPA Professional Standards with the description of materiality used by the U.S. judicial system, the auditing standards of the PCAOB, the SEC, and the FASB. The ASB believes it is