The COVID-19 pandemic created a challenging environment for CPA practitioners related to the new auditor reporting standards developed by the AICPA Auditing Standards Board (ASB).
As a result, the ASB deferred the effective dates of its recently issued Statements on Auditing Standards (SASs) addressing auditor reports.
With the issuance of SAS No. 141, Amendment to the Effective Dates of SAS Nos. 134–140, these standards are now generally effective for audits of Dec. 31, 2021, financial statements. Learn more.