Does SAS 99 (“Consideration of Fraud in a Financial Statement Audit”) have any impact on procedures?
A30: We believe this issue is covered by AICPA pronouncements and suggest you look there for guidance. Q31: SAS 99 (“Consideration of Fraud in a Financial Statement Audit”) is a requirement for all GAAS audits. This includes inquiries and documentation of responses from the Audit Committee, the chapter 13 trustee and employees of the trustee. Is this in accordance with your understanding and, if so, would you consider the EOUST the Audit Committee? A31: The EOUST is not the Audit Committee. The United States Trustee has a statutory and regulatory oversight and law enforcement role. Q32: If a sample tested has significant discrepancies, are there any additional procedures required and, if so, what fee arrangements are made for extra work? A32: If the sampling is part of the work performed on the audit of the annual report, the decision whether additional procedures are required is one made by the audit firm in accordance with professional standards. If the sampling is pursuant to the Re
