Several organizations have developed such sets of principles, which vary by territory.
Typically, the first number of the AU section refers to which standard applies.
[3][4] In the United States, the Public Company Accounting Oversight Board develops standards (Auditing Standards or AS) for publicly traded companies since the 2002 passage of the Sarbanes–Oxley Act; however, it adopted many of the GAAS initially.
[5] In October 2011, SAS 122 was issued which superseded all previous SASes except 51, 59, 65, 87, and 117-20.
Derivatives of ISAs are used in the audit of several other jurisdictions, including the United Kingdom.