With the release of SAS Nos. 114 and 115, expectations have increased for auditors to openly and candidly communicate significant findings and issues related to the audit. Understand how to implement these standards as well as forms of auditor/accountant communications, including engagement and management representation letters, confirmations and auditor/accountant reports. SAS No. 115 establishes standards and provides guidance on communicating matters related to an entity’s internal control over financial reporting. SAS No. 114 provides guidance on the communication process, in particular, the principal purposes of communication and the importance of effective two-way communication. SSARS No. 1 establishes the standards by which compilation and review engagements are performed.