Revised effective date for applicability of ICSI Auditing Standards

The Institute of Company Secretaries of India

ASB:2020

28th September, 2020

Dear Professional Colleagues,

Subject: Revised effective date for applicability of ICSI Auditing Standards

The Institute of Company Secretaries of India (ICSI) issued the following four Auditing Standards applicable on the Audit Engagements accepted by the Auditor:

• Auditing Standard on Audit Engagement (CSAS-1)
• Auditing Standard on Audit Process and Documentation (CSAS-2)
• Auditing Standard on Forming of Opinion (CSAS-3)
• Auditing Standard on Secretarial Audit (CSAS-4)

The above Standards were made recommendatory w. e. f. 1st July, 2019 and mandatorily applicable for Audit Engagements accepted by the Auditor on or after 1^st April, 2020 as per the decision of the Council of the ICSI. However, due to unprecedented situation occurred by the spread of COVID-19, the mandatory applicability was deferred to Audit Engagements accepted by the Auditor 1st October, 2020.

In view of the current situation of the pandemic, the mandatory applicability of the Auditing Standards is hereby further extended and the Standards shall be mandatorily applicable to Audit Engagements accepted by the Auditor on or after 1st April, 2021.

Regards,
(CS Ashish Garg)
President