Client Memo

SAS one hundred fifteen Changes and Benefits COM/530 April 23, 2012 SAS 115 Changes and Benefits MEMORANDUM TO: Valued Clients FROM: DATE: April 23, 2012 SUBJECT: SAS 115 Changes and Benefits CC: Supervisor Dear Valued Client, In a late move toward improving company communications pertaining to internal check up on matters it has been brought to our prudence in this effort to provide the best do for clients Statement on Auditing Standards (SAS) No. 112 has been removed and replaced with SAS 115, which is in burden for audits being performed on or after December 15, 2009. Definitions natural interpret is the method put into place by a company to be sure the integrity of financial and business relationship information, meets operational, profitability tar limits, and transmit trouble policies throughout the organization (Investopedia). checker deficiency is the result of the design or operation of the control not allowing management, employees to prevent, or correct financial misstatements (Ken Plessner CPA). Material helplessness occurs with the possibility of the material misstatement not being prevented, detected, and corrected on a timely basis (Ken Plessner CPA).

Significant deficiency requires attention by those in charge but is not as severe as material weakness (Ken Plessner CPA). SAS 115 allows the practitioners to to a greater extent effectively use their judgment when they become aware of and condition the severity of the deficiency found. If it is resolved the deficiency is severe enough, they result report it in writing, to management, and administration (Ken Plessner CPA). Benefits of the changes As with SAS 112, SAS 115 promotes clients sympathy of their organizations internal control weaknesses, which can good them in several ways, including (Thomas J. Ryan): * Written communication clarifies identified deficiencies determined to be significant or material weaknesses so management can weigh the risks and determine how they will be... If you want to get a full essay, order it on our website: Ordercustompaper.com

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