Auditing Standards Board releases two clarified exposure drafts for comment, revises auditing interpretation.

The AICPA's Auditing Standards Board has released the following items during the past few weeks.

* Resulting from its Clarity Project:

* Proposed Statement on Auditing Standards, Audit Considerations Relating to an Entity Using a Service Organization (Redrafted) (Supersedes SAS No. 70, Service Organizations [AICPA, Professional Standards, vol. 1, AU sec. 324]). Comment period ends Feb. 17, 2009. The proposed SAS would supersede AU Section 324, which contains guidance for auditors auditing the financial statements of entities that use a service organization (user auditors) and for auditors reporting on controls at a service organization (service auditors). The proposed SAS will only contain guidance for user auditors. Guidance for service auditors will be contained in a new Statement on Standards for Attestation Engagements, Reporting on Controls at a Service Organization, which is being exposed for comment concurrently with this proposed SAS.

* Proposed Statement on Standards for Attestation Engagements, Reporting on Controls at a Service Organization. Comment period...