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SAS No. 112, Communicating Internal Control Related Matters Identified in an Audit, is effective for audits with years ended Dec. 31, 2006, or later.

Recently, the AICPA Audit and Attest team has been made aware that some practitioners are misunderstanding key concepts to SAS No. 112.

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These misunderstandings are addressed in an Audit Risk Alert at www.cpa2biz.com/stores/sas112.

For an overview of SAS No. 112, visit www.aicpa.org/download/members/div/auditstd/AU-00325.PDF.

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