The ASB's Audit Standards Clarity Project: Prepare Now to Comply

Meeting the Challenges of International Convergence, New Objectives and Special Considerations in the Revised Standards

Recording of a 110-minute CPE webinar with Q&A

Conducted on Wednesday, June 29, 2011

Recorded event now available

or call 1-800-926-7926

This teleconference will provide advisors with an analysis of the material changes (to date and upcoming) to U.S. auditing standards by the Auditing Standards Board's (ASB) clarification and international convergence efforts, as well as the navigational issues with which auditors will deal on a routine basis.


Audit professionals must grasp the big picture of the Auditing Standards Board's clarity project, since the ASB's redrafted standards will apply in total for audits of periods ending on or after Dec. 12, 2012. Reformatting doesn't tell the entire story; substantive changes also are on the way.

As the ASB ramps up convergence with International Standards on Auditing, how will firms need to adapt if clients have international operations? What is the expected impact on auditors of the objectives and special considerations for smaller or government entities to be written into ASB standards?

Audit professionals also need to prepare for new navigation challenges as, for example, elements of SASes are shifted to audit guides. Our comprehensive briefing will prepare auditors for both the more substantive issues of the standards clarity effort and the revisions affecting routine reference.

Listen as our panel of accounting veterans gives a big-picture briefing on the impact of the ASB's clarity project.



  1. Background on the Auditing Standards Board’s clarity project
    1. Multi-year project to reformat and redraft all U.S. auditing standards
    2. Make them easier to use
    3. Have them converge, to maximum degree possible, with international ISAs
    4. Some standards already reworked, from a clarity perspective
    5. Common effective date of Dec. 15, 2012
  2. Material changes to the standards
    1. Establishing a written, stated objective for each standard
    2. Definitions section for standards that don’t have one
    3. Special considerations for audits of smaller, less-complex entities
    4. Special considerations for audits of government entities
    5. Possible changes in language of auditor’s report, requirements for opening balances, detecting non-compliance and other areas
  3. Navigational changes to the standards
    1. Structuring and drafting improvements
    2. Different terminology
    3. Mergers and separations of certain ASB sections
  4. Planning and training steps auditing firms can consider now


The panel will explore these and other relevant topics:

  • New elements in U.S. standards: Overall objectives and definitions for each standard, and special considerations for audits of less complex and government entities.
  • Potential significant changes: Language of auditor's reports, additional requirements on opening balances and illegal acts, and reporting changes when using a service auditor's work, among other areas.
  • Standards navigation issues: Where the organization and formatting of the ASB standards might catch you off-guard.
  • Staff training: What internal educational efforts on the clarity project should you be undertaking right now?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Ahava Goldman
Ahava Goldman
Senior Technical Manager

She is attached to the AICPA's Audit and Attest Standards Team and also acts as staff liaison for the ASB,...  |  Read More

Andy Mintzer
Andy Mintzer
Hemming Morse

He has more than 25 years of experience as a CPA, including 16 years as an auditor at Ernst & Young. He recently...  |  Read More

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