Page 475 - Auditing Standards

As of December 15, 2017

AS 3101: The Auditor's Report on an Audit of Financial

Statements When the Auditor Expresses an Unqualified
Opinion

Effective Date: For audits of fiscal years ending on or after Dec. 15, 2017, except for the requirements
related to critical audit matters. The requirements related to critical audit matters in paragraphs .11–.17 will be

effective for audits of fiscal years ending on or after June 30, 2019, for large accelerated filers; and for fiscal
years ending on or after Dec. 15, 2020, for all other companies to which the requirements apply, as described
in paragraph .05.

Final Rule: PCAOB Release No. 2017-001.
Guidance on AS 3101: Staff Questions and Answers on Adjustments to Prior-Period Financial Statements
Audited by a Predecessor Auditor,Staff Guidance for Auditors of SEC-Registered Brokers and Dealers, Staff
Guidance – Form AP, Auditor Reporting of Certain Audit Participants and Related Voluntary Audit Report

Disclosure Under AS 3101, Reports on Audited Financial Statements, and Staff Guidance – Changes to the
Auditor's Report Effective for Audits of Fiscal Years Ending on or After December 15, 2017

Summary Table of Contents

.01 Introduction

.04 Objectives

.05 The Auditor's Unqualified Report

Appendix A - Definition

Appendix B - An Illustrative Auditor's Unqualified Report Including Critical Audit Matters

Introduction

1
.01 The auditor's report contains either an expression of opinion on the financial statements, taken as a
2
whole, or an assertion that an opinion cannot be expressed. This standard establishes requirements
regarding the content of the auditor's written report when the auditor expresses an unqualified opinion on the

financial statements (the "auditor's unqualified report"). 3

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