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In the year 2018, ICAI issued SA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information. The Standard is applicable for audits of financial statements for periods beginning on or after April 1, 2018. The Standard casts a new reporting requirement on the auditors of listed entities and corporate entities to include a separate section on ‘Other Information’ in their audit reports. The Standard also contains several new requirements regarding auditors’ work effort on other information. The Auditing and Assurance Standards Board (AASB) of ICAI decided to develop an Implementation Guide on SA 720(Revised) to provide reasonable guidance to our members so that they can discharge their responsibilities in an effective manner.

The AASB feels happy to publish this “Implementation Guide to SA 720(Revised), “The Auditor’s Responsibilities Relating to Other Information”. The Implementation Guide is written in simple and easy to understand language. For ease of usage and understanding of the readers, the Implementation Guide has been written in a “Question – Answer” format containing FAQs on this Standard and their responses.

Chapter 1 Introduction
Chapter 2 Importance of Reporting on Other Information
Chapter 3 Frequently Asked Questions (“FAQs”) and Responses
Appendix Illustrations of Auditor’s Reports relating to Other Information given in Appendix 2 of SA 720(Revised)

Download Implementation Guide to SA 720 (Revised), “The Auditor’s Responsibilities relating to Other Information”


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May 2024