Auditing Standards Board Votes to Issue SAS No. 94.

• Position: Brief Article

In Apr., the Auditing Standards Board voted to issue Statement on Auditing Standards No. 94, The Effect of Information Technology on the Auditor's Consideration of Internal Control in a Financial Statement Audit (AICPA, Professional Standards, vol. 1, AU sec. 319), an amendment of SAS No. 55, Consideration of Internal Control in a Financial Statement Audit.

The SAS provides guidance to auditors about the effect of information technology on internal control, and on the auditor's understanding of internal control and assessment of control risk. Entities of all sizes increasingly are using IT in ways that affect their internal control and the auditor's consideration of...