The AICPA’s Auditing Standards Board has published Statement on Auditing Standards
(SAS) No. 142, Audit Evidence.
SAS 142 “explains what constitutes audit evidence in an audit
of financial statements and sets out attributes of information that are taken into
account by the auditor when evaluating information to be used as audit evidence.”
The standard “addresses the evolving nature of business, audit services and issues
that have arisen since the existing AU-C section 500 was originally issued.”
For more information, see the press release on the AICPA’s Web site.