New Financial Statement Auditors’ Report
In May 2019, the Auditing Standards Board of the American Institute of Certified Public Accountants issued Statement on Auditing Standards 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements (SAS 134). A significant part of SAS 134 changes the content and formatting of an audit opinion reached under Generally Accepted Auditing Standards in the United States. The purpose of SAS 134 is to communicate more significant aspects of the audit with the reader of the auditors’ report as well as update the auditors’ report to more closely match the requirements of the International Auditing and Assurance Standards Board.