Page 393 - Auditing Standards

As of December 15, 2017

AS 2610: Initial Audits—Communications Between

Predecessor and Successor Auditors

Guidance on AS 2610: Staff Questions and Answers on Adjustments to Prior-Period Financial Statements

Audited by a Predecessor Auditor

Summary Table of Contents

.01 Introduction

.03 Change of Auditors

.12 Successor Auditor's Use of Communications

.14 Audits of Financial Statements That Have Been Previously Audited

.21 Discovery of Possible Misstatements in Financial Statements Reported on by a Predecessor Auditor

.23 Effective Date

.24 Appendix A - Illustrative Client Consent and Acknowledgment Letter

.25 Appendix B - Illustrative Successor Auditor Acknowledgment Letter

Introduction

.01 This section provides guidance on communications between predecessor and successor auditors
when a change of auditors is in process or has taken place. It also provides communications guidance when
possible misstatements are discovered in financial statements reported on by a predecessor auditor. This

section applies whenever an independent auditor is considering accepting an engagement to audit or reaudit
(see paragraph .14 of this section) financial statements in accordance with the standards of the PCAOB, and
after such auditor has been appointed to perform such an engagement.

.02 For the purposes of this section, the term predecessor auditor refers to an auditor who (a) has
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reported on the most recent audited financial statements or was engaged to perform but did not complete an
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audit of the financial statements and (b) has resigned, declined to stand for reappointment, or been notified
that his or her services have been, or may be, terminated. The term successor auditor refers to an auditor

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