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As of December 15, 2017
AS 2301: The Auditor's Responses to the Risks of Material
Misstatement
Effective Date: For audits of fiscal years beginning on or after Dec. 15, 2010
Final Rule: PCAOB Release No. 2010-004
Guidance on AS 2301: Staff Audit Practice Alerts No. 7, No. 8, No. 9, No. 10, No. 12, and No. 15
Summary Table of Contents
.01 Introduction
.02 Objective
.03 Responding to the Risks of Material Misstatement
.05 Overall Responses
.08 Responses Involving the Nature, Timing, and Extent of Audit Procedures
.16 Testing Controls
.36 Substantive Procedures
Appendix A—Definitions
Introduction
.01 This standard establishes requirements regarding designing and implementing appropriate responses
to the risks of material misstatement.
Objective
.02 The objective of the auditor is to address the risks of material misstatement through appropriate
overall audit responses and audit procedures.
Responding to the Risks of Material Misstatement
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