61 - Effective for audits of financial statements for periods ending on or after December 15, 2000. 71 - Effective for reviews of interim financial information for interim periods ending on or after March 15, 2000.
Earlier application is permitted.
This Statement on Auditing Standards, SAS No. 90, Audit Committee Communications , amends SAS No. 61, Communication With Audit Committees , and SAS No. 71, Interim Financial Information . The amendment to SAS No. 61, Requires an auditor to discuss certain information relating to the auditor's judgments about the quality, not just the acceptability, of the company's accounting principles with the audit committees of SEC clients. Encourages a three-way discussion among the auditor, management, and the audit committee. The amendment to SAS No. 71 Clarifies that the accountant should communicate to the audit committee or be satisfied, through discussions with the audit committee, that matters described in SAS No. 61 have been communicated to the audit committee by management when they have been identified in the conduct of interim financial reporting.